Since August, RSP Permian’s acquisitions have added net production of 3,500 boe/d, 277 net horizontal locations and 47,000 net effective horizontal acres while raising liquidity enough to offset overspending.
One bright spot: The proposed deal shone a spotlight on the favored Permian Basin, where M&A activity remained strong this year (fueled in part by 80 private-equity-backed E&Ps). Apache holds the third-largest acreage position in the basin.
Goldman Sachs calculates EnerVest paid $22,000 per acre, in line with acreage valuations paid during the height of the oil boom in 2013 and 2014. The deal was for some 1,500 nonoperated net acres in Karnes County.
The USGS will re-assess the Williston Basin at the request of a North Dakota senator who wants the agency to study the potential of the Tyler Formation, a recent spot for activity by companies such as Marathon Oil.