back to valuations on acres, what things are going for...

back to valuations on acres, what things are going for today..

this sale was done by swift, whom sits on practically most boundaries on the north west side of the mcmullen acreages

the sale is not mcmullen, but in webb. so swift is in mcmullen and webb.. they farmed out webb.. remaining as operators still..

Swift Energy Co. Analyst Notes On May 6, 2014, Swift Energy Co. (Swift Energy) and PT Saka Energi Indonesia (Saka) announced that U.S. subsidiaries of both companies have executed definitive agreements to fully develop properties owned by the Company and is expected to close on or about June 30, 2014, subject to normal closing conditions. The properties consist of approximately 8,300 acres of Fasken area Eagle Ford shale properties located in Webb County, Texas. According to the Company, the executed agreements provide for Saka to pay the Company $175 million in total cash consideration to acquire a 36% full participating interest in its Fasken properties. The Company will continue to be the operator of Fasken properties, with development plans for the field to be mutually agreed upon by both companies as provided for in the definitive agreements.

so 36% of 8300 acres = 2988 acres for $175 mill

calculated to $58,000 per acre..

this is webb county, not mcmullen, not saying webb is a lousy county, but you dont get much news from webb, usually its dewitt, karnes, live oak, mcmullen

so sundance has 14,000 acres that in anyones books easily equal webb county and imho surpasses it. (personal opinion here)

on the webb county calculation alone the sundance efs acreages would be worth $812 mill

all imho and dyor