If the acreage is an analogue of AUT's Longhorn/Sugarloaf acreage, brokers have suggested NPV10 of circa $10mm/well, which translates into circa $780mm for STX's 6,260 net acres with the potential of very considerable upside.
There is a lot of discussion on the TXN board about a potential land deal. It has a comparable land interest in terms of acres in McMullen county and it appears to be in a comparable part of the EFS trend. TXN has drilled 4 wells - awaiting fracc of the last. Eagle Landing may have to consider drilling similarly before it could contemplate a land sale - TXN would need to allocate at least $10mm for that, I would have thought.
If TXN does a land deal, there will be a yardstick against which STX might be compared. Full field development would require a lot of cash. That would require a capital issue, a farmout or a sale of part of the land.
I'd go with 75c subject to seeing the out turn for TXN if it does proceed with a land deal.
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Last
23.0¢ |
Change
0.020(9.52%) |
Mkt cap ! $659.0M |
Open | High | Low | Value | Volume |
21.5¢ | 23.0¢ | 20.8¢ | $2.859M | 12.94M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
6 | 226888 | 22.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
23.0¢ | 4366669 | 32 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 226888 | 0.225 |
9 | 647654 | 0.220 |
10 | 1208008 | 0.215 |
16 | 1363547 | 0.210 |
33 | 1283157 | 0.205 |
Price($) | Vol. | No. |
---|---|---|
0.230 | 4366669 | 32 |
0.235 | 738380 | 17 |
0.240 | 1313046 | 16 |
0.245 | 723188 | 16 |
0.250 | 2080188 | 28 |
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