The average price Permian Basin operators and entrants have paid to date in 2014 for leasehold in the Wolfwcamp oil play is $12,000 an acre, $105,000 per flowing, daily, barrel of oil equivalent of production, and $38.50 per BOE of proved reserves, he reported.
Wonder what 136,000 net acres in the same area is worth? barcolet do you know?
Production was 14.3 MBoe/d, a 21% increase over the prior-year quarter
EBITDAX was $33.4 million, or $0.83 per diluted share
Per unit cash operating expenses decreased 27% from the prior-year period
Adjusted net loss was $1.3 million, or $0.03 per diluted share
Average IP for horizontal Wolfcamp wells in first quarter 2015 was 723 Boe/d (56% oil)
Lenders reaffirmed credit facility commitment amount of $450 million effective April 15
Sentiment: Strong Buy
Ren has 13,200 net acres in that same area. Expect a play for this compnay way undervalued on every metric Be patient grasshopers