One-Page Deal Sheet
Energen Unit Signs Delaware Basin Joint Exploration Option Agreement
BHP Billiton Limited Energen Corp.
Announced Date
February 22,2012
Transaction Type
JV
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
County
Reeves
Play
Calculated Metrics( EV/Category)
Transaction Details: Subscribe to see
Energen Corporation has announced that its oil and gas exploration and production subsidiary has entered into a definitive agreement with BHP Billiton that could lead to the joint drilling and development of 56,549 net acres currently under lease to Energen Resources Corporation primarily in Reeves County, Texas, in the Delaware sub-basin of the Permian Basin.
BHP Billiton has agreed to buy a 50 percent undivided interest in three existing wells in Reeves County from Energen Resources for approximately $18 million. As a result of purchasing the wells, and subject to initiating horizontal…
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