One-Page Deal Sheet
QEP to Grow Oil Production in Significant Permian Acquisition
QEP Resources, Inc. Enervest Ltd.
Announced Date
December 09,2013
Close Date
February 25,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
950
Asset/Basin:
{"Permian (Midland sub-basin)"}
Net Acres
% Oil:
Net Operated Locations:
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
County
Martin ,Andrews
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Require Private Equity Subscription
QEP Resources Inc. has announced that its wholly owned subsidiary, QEP Energy Company, has entered into a definitive agreement to acquire oil and gas properties in the Permian Basin for an aggregate purchase price of approximately $950 million.
The properties, which are located in the Midland sub-basin, primarily in Martin and Andrews counties in west Texas, will diversify the Company’s exploration and production footprint, and advance QEP’s objective to create long-term shareholder value through the continued emphasis on high-margin crude oil and natural gas liquids production. The Company’s…
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