EXPM:EGRGF - Post by User
Comment by
TXBJeddon Mar 07, 2019 2:04pm
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Post# 29456758
RE:RE:Hardeman Basin/North Texas -Up For Sale
RE:RE:Hardeman Basin/North Texas -Up For SaleI think they should get some where in the neighborhood of $60 million. I arrived at this figure/assumption looking at a number of issues. First, the sale includes approximately 600 boed, at $100k per flowing barrel that would be $60 million. When they brought the property they paid appx. $26 million for 300 boed and 10,000 acres. They are now selling 600 boed and 28,000 acres. I believe a buyer will see good value in this deal. There have recently been other productive wells drilled around the Eagle leasehold.
Also of my opinion is based on an assumption, but I’m comfortable in making that assumption.
I believe the North Texas proper is a good property, but I believe their Montney property may be better. Many have classified the Montney as a world class play and the Major Oil and Gas companies are buying into the play.