One-Page Deal Sheet
New Gulf Picks Up Sizable Eagle Ford Asset in Deal with Halcon
New Gulf Resources, Llc Battalion Oil Corp.
Announced Date
February 27,2014
Effective Date
April 01,2014
Close Date
May 09,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
450
Asset/Basin:
{"Eagle Ford",Woodbine}
TargetZones:
{Woodbine}
Net Acres
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Gulf Coast - Southeast Texas
Country
United States
State
Texas
County
Leon ,Grimes ,Madison ,Brazos ,Walker
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/EBITDA
Transaction Details: Subscribe to see
Closing Announcement - March 14, 2014
New Gulf Resources, LLC has closed a $450 million, before closing adjustments, acquisition of 83,000 net acres in Leon, Grimes, Madison, Brazos and Walker Counties, Texas from subsidiaries of Houston-based Halcon Resources.
The acquisition includes current production of 3,600 barrels of oil per day equivalent, a natural gas gathering and processing system that spans three counties, and rights to 330 square miles of newly shot and processed 3D seismic data over the acreage.
Ralph Hill, Chairman and CEO, commented: "Today we have married a first class…
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