One-Page Deal Sheet
Providence Resources Enters JV Agreement with Elm Ridge Exploration
Providence Resources, Inc. Elm Ridge Exploration Co.
Announced Date
August 21,2008
Close Date
August 08,2008
Transaction Type
JV
Enterprise Value (EV)($MM)
7
Asset/Basin:
{Permian,"Val Verde Basin"}
TargetZones:
{Ellenberger,"Strawn
Location
Country
United States
State
New Mexico
Transaction Details: Subscribe to see
Providence Resources, Inc. today announced that its wholly owned
subsidiary Providence Exploration, LLC has entered into prospect
participation and joint operating agreement with Elm Ridge Exploration
Company, LLC ("Elm Ridge"), a New Mexico based oil and gas exploration
company. Under the agreement Elm Ridge acquired a 50% interest in the
Val Verde Prospect in exchange for an initial payment of $7,212,000
and Elm Ridge's commitment to carry Providence for up to $2,000,000 on
the first two wells to be drilled to the Ellenberger formation. The
parties further agreed to hire R.K. Ford & Associates, Inc.
United States Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| 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 |
| Jul-30-2024 |
- |
- |
Click here | New Mexico | E&P |
| Jun-12-2024 |
- |
- |
Click here | New Mexico | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| May-07-2025 | Permian Resources Bolt-On Assets From APA Corp | -
|
45,646 |
| May-03-2025 | Riley Permian Acquires PE-Backed Silverback II For $142million | -
|
3,021 |
| Nov-13-2024 | Coterra Expands Permian Footprint with $3.95 Billion Acquisition of Franklin Mountain and Avant Assets | -
|
80,612 |