Deal Insight

Synergy Resources acquires DJ Basin assets from Noble for US$505 million

Get this report

$1,650

You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

- Available as part of a subscription
- FAQ's about online orders

11 May 2016

Synergy Resources acquires DJ Basin assets from Noble for US$505 million

Report summary

Synergy Resources is buying 33,100 net acres in Weld County, Colorado from Noble Energy for US$505 million. Average net daily production on the acquired assets is approximately 2,400 barrels of oil equivalent per day. The acreage is largely undeveloped horizontally, but over 80% of the acquired lands are held by production from vertical wells. We value the position using our type curve assumptions for extended lateral development in the Greater Wattenberg sub-play. Our valuation is dependent upon Synergy's ability to optimize well spacing across the acquired acreage. While the base case valuation is quite close to the deal consideration, we believe that Synergy may have been willing to pay a premium to acquire acreage contiguous to their own in the heart of the Wattenberg Field. These opportunities are rare in the Wattenberg, as the acreage is largely held by few operators.

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
    • Noble Energy
    • Synergy Resources
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 7 images and tables including:

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

What's included

This report contains:

  • Document

    Synergy Resources acquires DJ Basin assets from Noble for US$505 million

    PDF 291.96 KB

Other reports you may be interested in

Browse reports by Industry Sector