One-Page Deal Sheet
Ring Picks Up Central Basin Property from Wishbone for $300MM
Ring Energy Inc. Wishbone Energy Partners
Announced Date
February 26,2019
Effective Date
November 01,2018
Close Date
April 09,2019
Transaction Type
Property
Enterprise Value (EV)($MM)
300
Asset/Basin:
{"Permian - Central Basin Platform"}
TargetZones:
{"San Andres"}
Net Acres
Proved Reserves
PV-10 ($MM)
Location
Calculated Metrics( EV/Category)
Region
Permian - Central Basin
Country
United States
State
New Mexico
County
Lea
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Require Private Equity Subscription
Ring Energy Inc. has inked a deal to acquire its North Central Basin Platform assets located primarily in Southwest Yoakum County, Texas and East Lea County, New Mexico from Wishbone Energy Partners.
The total purchase price for the acquisition is $300 million, comprised of $270 million of cash and $30 million of common stock.
This deal closed on April 12, 2019.
The property includes:
49,754 (37,206 net) acres (77% average WI) Includes 127 gross wells currently producing 6,000 Boepd San Andres potential 34.3 MMBOE in proved reserves Pro Forma| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Jul-10-2025 |
-  |
- |
Click here | Texas | E&P |
| Jul-05-2022 |
- |
- |
Click here | Texas | E&P |
| Jan-28-2022 |
- |
- |
Click here | Texas | E&P |
| May-14-2019 |
- |
- |
Click here | Texas | E&P |
| Nov-05-2018 |
- |
- |
Click here | Texas | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Jul-05-2022 | Ring Energy Acquires PE-Backed Stronghold Energy II for $465 Million | - |
- |
| Jan-28-2022 | Maverick Natural Resources Inks $440MM Deal for Permian Assets | - |
- |
| Nov-30-2020 | Contango to Acquire Oily Assets in Big Horn, PRB, Permian Basins | - |
- |