

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: $380 million +overriding royalty interests in certain future wells.
Transaction Map
Source : Shale Experts Mapping Database
Production
DJ Basin Deal Activity In Last 12 Months
Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
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Nov-09-2020 |
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Click here | Colorado | E&P |
Jul-20-2020 |
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Click here | Colorado | E&P |
Jan-09-2020 |
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Click here | Texas | E&P |
Dec-10-2019 |
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Click here | Colorado | E&P |
Aug-26-2019 |
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Click here | Colorado | E&P |
Date | Deal Headline | Price | $/acre |
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Nov-09-2020 | Bonanza Creek to Acquire HighPoint Resources in $376MM Merger | - ![]() |
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Aug-26-2019 | PDC Acquires DJ Basin Pure-Player SRC Energy | - ![]() |
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Dec-05-2017 | Bill Barrett and PE-backed Fifth Creek Merge | - ![]() |
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Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
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Oct-19-2020 |
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Click here | Texas | E&P |
Jul-22-2020 |
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Click here | British Columbia | E&P |
Mar-05-2020 |
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Click here | E&P | |
Dec-13-2019 |
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Click here | E&P | |
Oct-14-2019 |
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Click here | E&P |