Deal Insight
Diamondback Energy acquires Midland Basin assets for US$437.8 million
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Report summary
This deal is the first major M&A transaction associated with the Wolfcamp since low oil prices muted the market. Low oil prices do not appear to have drastically altered the asset valuation; Diamondback paid a comparable price to what Breitburn paid, adjusted for flowing production, for adjacent acreage in October 2014 (when WTI was priced at US$85/bbl). Diamondback paid higher than our estimated Deep Basin base case valuation of US$12,600/acre, (outlined in the Wolfcamp Key Play Report).
Table of contents
- Executive summary
- Upstream assets
- Deal analysis
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes 3 images and tables including:
- Wolfcamp sub-plays
- Cost per acre by acquisition
- Oil & gas pricing and assumptions: Table 1
What's included
This report contains:
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