PE-backed Crestone Peak Acquires ConocoPhillips DJ Basin Asset
Multiples
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: $380 million +overriding royalty interests in certain future wells.
Transaction Map
Source : Shale Experts Mapping Database
Production
Rockies - DJ Basin Deal Activity In Last 12 Months
Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
---|---|---|---|---|---|
Jan-11-2024 | - | - | Click here | Colorado | E&P |
Sep-06-2022 | - | - | Click here | E&P | |
May-18-2022 | - | - | Click here | E&P | |
Feb-28-2022 | - | - | Click here | Colorado | E&P |
Feb-01-2022 | - | - | Click here | Colorado | E&P |
Date | Deal Headline | Price | $/acre |
---|---|---|---|
Jan-11-2024 | Prairie Operating Bolt-On DJ Basin Assets From Nickel Road | - | - |
May-18-2022 | Grey Rock, ENPC Ink $1.3B Business Combination; Form Granite Ridge Resources | - | - |
Feb-28-2022 | PDC Acquires DJ Basin E&P Great Western in $1.3B Deal | - | - |
Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
---|---|---|---|---|---|
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 |
Jul-08-2021 | - | - | Click here | Wyoming | E&P |
Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
---|---|---|---|---|---|
Jun-07-2021 | - | - | Click here | Colorado | E&P |
Jun-30-2016 | - | - | Click here | Colorado | E&P |