Antares Energy released news yesterday stating that they acquired Wolfberry assets in Western Howard County for $62 million for 3,109 net acres. This acquisition equals $19,942/acre.
Also, Berry Petroleum announced that they have entered into agreements to purchase 6,000 net Wolfberry acres for $123 million. This equals $20,500/acre.
Two good comps for Wolfberry/Wolfcamp and Lynden Energy!
Friday, April 29, 2011
Friday, April 1, 2011
The latest University Land Sale netted $249.8 million for 103,667 acres in West Texas. Most of that land lies in the Wolfbone and Wolffork plays in the Permian Basin. These leases equal over $2,400/acre. This is a great sign that companies are still willing to pay top dollar for unproven Permian Basin land.