One-Page Deal Sheet
Terra Energy Partners Acquires Piceance Basin Property From WPX For $910 Million
TEP Rocky Mountain Llc, Terra Energy Partners LLC WPX Energy, Inc.
Announced Date
February 09,2016
Close Date
April 08,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
910
Asset/Basin:
{Piceance}
TargetZones:
{Mancos,Niobrara}
Net Acres
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Rockies - Piceance/Uinta
Country
United States
State
Wyoming
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Production ($/Mcfe/d)
Transaction Details: Require Private Equity Subscription
Closing Announcement - April 8, 2016
Initial Announcement - February 9, 2016
WPX Energy has signed an agreement to sell its wholly owned subsidiary WPX Energy Rocky Mountain, LLC, to Terra Energy Partners LLC for $910 million. The parties expect to close the sale in the second quarter.
Click here to take a look at WPX's Piceance assets
The acquired assets consist of an approximate 200,000 net acre position in the Piceance Basin of Colorado boasting recent net production of approximately 500 million cubic feet equivalent per day. Terra estimates that the assets contain approximately 2 trillio…
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