One-Page Deal Sheet
Gulfport Energy Acquires Permian Basin Assets
Gulfport Energy Corp. Not Disclosed
Announced Date
December 03,2007
Effective Date
November 01,2007
Close Date
December 20,2007
Transaction Type
Property
Enterprise Value (EV)($MM)
85
Asset/Basin:
{"Permian Basin"}
TargetZones:
{Wolfcamp,Spraberry}
Net Acres
% Oil:
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Require Private Equity Subscription
Gulfport Energy Corporation today announced that it has signed a definitive agreement for the right to acquire an approximate 50% working interest in strategic assets in West Texas in the Permian Basin for approximately $85 million.
The assets include 4,100 acres net to Gulfport's proposed interest with current production of approximately 800 net barrels of oil equivalent ("BOE") a day from 32 gross wells, predominately from the Wolfcamp formation. Existing production is approximately 64% oil, 23% natural gas liquids and 13% natural gas. The other 50% working interest is being acquired by…
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