It does if you ignore the fact that:
1) Only SOME of the acreage that was sold to Marathon was in the sweet-spot, like AUT's acreage is.
2) Hilcorp was 40% owned by KRR, who had bought their stake at 1/3rd of the take-over price just one year ago. Hilcorp also would have been extremely happy with the profits locked in. Fantastic acquisition by Marathon IMO, although the deal was equally beneficial for both parties.
Valuing AUT per acre is dangerous and quite silly actually. Future cashflow in a proven area is where it's at.
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