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10,973 Posts.
3667
01/05/12
13:45
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To highlight another, back in Dec 2011, Concho Resources purchased Wolfberry assets from Petroleum Dev Corp for $175M
- 10,800 gross acres (10,200 net) located in Andrews, Ector, and Midland Counties.
- 170 Wolfberry drilling locations (40 acre spacing)
- Estimated proved reserves of 13 MMBoe
- Current net production of 1,100 Boepd
Which makes it about $13.50 proved reserves and $160K per flowing boepd.
Without the reserves GGP hand isn't as strong.
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