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Crestone Peak Resources LLC → ConocoPhillips- One-Page Deal Sheet

Announced Date
March 05,2020
Effective Date
June 01,2019
Close Date
March 03,2020
Transaction Type
Property
Enterprise Value (EV)($MM)
380




Snapshot
Asset/Basin:
["DJ Basin"]
TargetZones:
["Niobrara"]
Net Acres
98,000
% Oil:
75 % oil

Source Documents:
   Source Link
Location
Region
Rockies - DJ Basin

Country
United States

State
Colorado

County
Adams ,Arapahoe

Play
Niobrara - DJ Basin


Production
Production
11,000 Boe/d

Production Mix
77 % Oil


Calculated Metrics( EV/Category)
$/ Flowing
34,545

$/ Acre
3,878

Transaction Details: 

Crestone Peak Resources, which is backed by CPPIB & Broe Group, has agreed to acquire ConocoPhillips' Niobrara assets located in the southern Denver-Julesburg (D-J) Basin (map available below).

The asset contains some 98,000 net acres in the Southern DJ Basin.   ConocoPhillips operated 1 rig on the property in 2019, up to October when the company lay down the one rig.   The company also completed/frac'd 26 wells in 2018 and 19 wells in 2019.

The deal allows Crestone to increase its production in the basin to 60 Mboe/d and oil mix to 50%.

  • Production: 11,000 BOE/d with a 75% oil cut.
  • Purchase price: $380 million +overriding royalty interests in certain future wells.

 

Transaction Map

Source : Shale Experts Mapping Database

Enlarge Map

 

Production


Other Rockies - DJ Basin Region's Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Jan-11-2024 - - Click here Colorado  E&P
Sep-06-2022 - - Click here   E&P
Feb-28-2022 - - Click here Colorado  E&P
Feb-01-2022 - - Click here Colorado  E&P
Nov-10-2021 - - Click here Colorado  E&P

Price History


Date Deal Headline Price$/acre
Jan-11-2024 Prairie Operating Bolt-On DJ Basin Assets From Nickel Road - -
Feb-28-2022 PDC Acquires DJ Basin E&P Great Western in $1.3B Deal - -
Feb-01-2022 Civitas Acquires DJ Basin Operator Bison Oil & Gas II in $300MM Deal - -

Other ConocoPhillips Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
May-29-2024 - - Click here Texas  E&P
Jul-28-2022 - - Click here Texas  E&P
Dec-08-2021 - - Click here   E&P
Dec-08-2021 - - Click here   E&P
Sep-20-2021 - - Click here Texas  E&P

Other Crestone Peak Resources LLC Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Jun-07-2021 - - Click here Colorado  E&P
Jun-30-2016 - - Click here Colorado  E&P