One-Page Deal Sheet
Oasis Enters the Permian; Acquires Encap-backed Forge Energy for $946 Million
Oasis Petroleum Inc. Forge Energy LLC
Announced Date
December 11,2017
Effective Date
December 01,2017
Close Date
February 14,2018
Transaction Type
Property
Enterprise Value (EV)($MM)
946
Asset/Basin:
{"Permian - Delaware Basin"}
TargetZones:
{"Wolfcamp A","Wolfc
Net Acres
20,300
% Oil:
78 % oil
Net Operated Locations:
507 ({"Wolfcamp A","Wolfc)
Source Documents:
Location
Calculated Metrics( EV/Category)
Region
Permian - Delaware Basin
Country
United States
State
Texas
County
Loving ,Ward ,Winkler
Play
Production Production
3,500 Boe/d
Production Mix
78 % Oil
Calculated Metrics( EV/Category)
$/ Flowing
270,286
$/ Acre
46,601
$/Location
1,865,878
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 $100 million in 2018
- Initially running one rig with the potential to add a second rig in the second half of 2018
Map
Permian - Delaware Basin Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Mar-10-2026 |
-  |
- |
Click here | Texas | E&P |
| Sep-02-2025 |
- |
- |
Click here | Texas | E&P |
| May-07-2025 |
- |
- |
Click here | New Mexico | E&P |
| May-03-2025 |
- |
- |
Click here | New Mexico | E&P |
| Nov-13-2024 |
- |
- |
Click here | New Mexico | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Jul-30-2024 | Permian Resources Acquires More Delaware Basin Property | - |
- |
| Jul-28-2024 | Vital Energy Acquires Delaware Basin Property From PE-Backed E&P | - |
- |
| Jun-12-2024 | Matador Resources Acquires PE-Backed Ameredev For $1.9 Billion | - |
- |