One-Page Deal Sheet
Tall City Closes Northern Midland Basin Sales; $803 Million
Blue Whale Energy, Moss Creek Resources, LLC, Surge Operating, LLC Element Petroleum Operating Llc, Tall City Exploration Llc
Announced Date
November 30,2015
Close Date
November 30,2015
Transaction Type
Property
Enterprise Value (EV)($MM)
803
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
County
Howard ,Borden
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Require Private Equity Subscription
Tall City Exploration LLC has closed an agreement with Moss Creek Resources, LLC to sell substantially all of its exploration and production assets for $803 million (subject to typical closing adjustments).
We alerted our subscribers back in early October about this deal.
Back in November of 2014, we noted that Tall City Exploration and another Private Equity Backed Permian E&P were looking for buyers.
Tall City’s E&P assets are comprised of the oil and gas rights to leases on approximately 71,000 acres in Howard and Borden Counties, Texas and interest in 34 horizontal and six vertical wells…
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