Hunt’s 44,000 net acre Midland position has been on the market for months. The disposal wasn’t highly publicized by the private company, but the asset sits in the heart of the Midland Basin where M&A has been a critical theme the last few quarters. And on 30 April, Vencer Energy announced purchasing the property for an ‘undisclosed sum’. The deal is important because it helps establish better benchmark ranges for the next set of Permian deals. But the actual deal value isn’t fully known. Reporting has alluded to a figure above US$1 billion, but that figure feels light considering the buyer cited 40,000 boe/d of net production. We’ve used our Lens subsurface data to asset how future wells might perform. We also value PDP under a number of scenarios. Without knowing many details of the sale, we still feel comfortable calling that Vencer probably got the asset for an attractive price.