One-Page Deal Sheet
PDC Acquires Arris Petroleum, 299 Resources for $1.5 Billion; Re-Enters Permian
PDC Energy, Inc. 299 Resources LLC, Arris Operating Company
Announced Date
August 23,2016
Close Date
December 06,2016
Transaction Type
Corporate
Enterprise Value (EV)($MM)
1500
Asset/Basin:
{Permian,"Delaware Basin"}
TargetZones:
{"Wolfcamp A","Wolfc
Net Acres
% Oil:
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Permian - Delaware Basin
Country
United States
State
Texas
County
Reeves ,Culberson
Play
Production & Reserves Production
Production Mix
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Require Private Equity Subscription
Closing Announcement - December 6, 2016
PDC Energy has closed the previously announced Delaware Basin acquisition.
Acquisition Highlights: Closing price of approximately $1.5 billion, subject to certain post-closing adjustments. Approximately 57,000 net acres in Reeves and Culberson Counties, Texas, subject to ongoing title review. Current net production of ~7,500 Boe/d from 25 horizontal wells with two additional wells in the completion process. Midstream assets including an estimated 50 miles of gas gathering lines, 30 miles of water disposal lines, five salt water disposal wells and…Permian - Delaware Basin Deal Activity In Last 12 Months
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|---|---|---|---|---|---|
| Mar-10-2026 |
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| Sep-02-2025 |
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| May-07-2025 |
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| May-03-2025 |
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| Nov-13-2024 |
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| 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 | - |
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| Jun-12-2024 | Matador Resources Acquires PE-Backed Ameredev For $1.9 Billion | - |
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