Transaction Details: 

Oasis has agreed to acquire 20,300 net acres in the Delaware Basin from Encap and Pine Brook-backed Forge Energy LLC for $946 million (comprised of $483 million in cash / 46 million shares of stock). This marks Oasis' entry into the Permian. 

Forge Energy has been drilling some impressive wells to date, with its most recent UL 1h Wolfcamp A producing 166,000 bbls in 5 months.

Acquisition Highlights

• 20,300 net acres across Loving, Ward, Winkler and Reeves counties, Texas

• 3,500 BOEPD in production (78% oil)

• 601 gross operated locations (76% working interest) and 507 net core locations targeting the Wolfcamp A, B, and C and the Bone Spring formations, with extensive additional upside from other intervals in the column

2018 Plans:

• Expects to drill 16 to 20 gross wells and complete 6 to 8 gross wells with a capital program of approximately $100 million in 2018

• Initially running one rig with the potential to add a second rig in the second half of 2018

Map

Permian - Delaware Basin Deal Activity In Last 12 Months