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Week of January 23, 2012Volume 2, No. 4

Granite Wash, Tonkawa, Cleveland, Marmaton PLUS

Stacked Oil and Liquids plays in Anadarko Basin

Slide

Apache / Cordillera

$2.85 Billion Deal

January 23, 2012


Full Presentation

 Slide

Stacked Oil and Liquids Pays

25% - 42% ROR's ($90/$3)

January 23, 2012


Full Presentation


On Monday, January 23, Apache announced a $2.85 billion acquisition of Cordillera Energy Partners III, LLC.   The acquisition adds 254,000 net acres to Apache's existing 233,000 net acres in the prolific liquids-rich stacked pays fairway across the Texas/Oklahoma Panhandles of the Anadarko Basin.

Above are slides from Apache's acquisition presentation showing the Fairway and select economics for four of the Primary Plays -- Granite Wash, Tonkawa, Cleveland and Marmaton.

According to Apache, the Fairway has > 60 productive horizons across 5,000' of section. Prior to the deal, Apache had successfully drilled 104 operated horizontal wells with no dry holes.  

Most importantly, Apache notes the Horizontal Wells cost 2X  times a Vertical Well and yield 3X the reserves and 5X the initial rate!


Below, are additional presentations which highlight:

  • Top Granite Wash producers courtesy of Eagle Rock Energy Partners
  • The "Hogshooter" or Missourian Wash play where Forest recently announced a 3,900/BOE well
  • Chesapeake Energy with 2 MM acres in the Anadarko Basin - its #1 Oil/Liquids position
  • Linn Energy who bought a $600 MM package in the Fairway from PXP in October 2011


Did you know?

Oil company execs, investors and bankers know full well the value of "competitive reconnaissance." PLS' new docFinder database is a valuable source to stay current on industry and company developments. DocFinder collects, archives and uniquely catalogues industry presentations and provides clients with great features for searching, finding, collaborating and communicating a wealth of data.


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featured.slides from docFinder

Slide Slide Slide Slide

Granite Wash  Players


December 6, 2011

FST : Missourian Wash!


January 10, 2012

CHK : Anadarko basin #1


October 3, 2011

Linn: Growing Position


December 6, 2011

The slide above is courtesy of Eagle Rock Energy Partners, L.P. - a growth MLP in the midstream (38%) and upstream businesses (62%).  Eagle Rock is a leading midstream company in the Granite Wash fairway.  As the slide indicates, Granite Wash daily production is poised to rocket to over 2.0 Bcfe/day in 2012 with the leading players being Apache, Chesapeake, Forest, Devon, Newfield, QEP, Linn, Cimarex, Penn Virginia and Unit.


Full Presentation


docFinder allows to you research top plays and players... 

Forest Oil highlights what it terms "The Interval Factor" -- or Acreage Mulitplier meaning that stacked pays provide for multiple horizontal wells from the same location.  In 2011, Forest quietly acquired 174,000 net acres in liquids plays for less than $1,050/acre.  Also, Forest announced its initial Missourian Wash (Hogshooter) well tested 3,900 Boe/d and cost $7.0 to $7.5 MM.  30 additional locations are identified with more acreage under review.


Full Presentation


docFinder keeps you informed of key wells and IP's... 

Chesapeake Energy's 1,000 BOE/d wells everywhere map has a number of these concentrated in the Granite Wash fairway, including Tonkawa and Cleveland wells.  The Anadarko Basin tops the list in CHK's liquids position as of October 2011 with over 2 MM net acres and 4,355 risked net undrilled wells (based on 155 acre drilling density).  The area also accounted for 35 active rigs searching for oil (of a total of 82 at the time).


Full Presentation


docFinder allows you to identify company's strategies.. 

On 11/4/2011, Linn Energy announced a $600 million Granite Wash acquisition from Plains E&P.  The deal added 84 MMcfe/d of production and 20,000 Granite Wash acres (and 75,000 net acres outside of Granite Wash) and doubled Linn's Granite Wash inventory to 400 locations.  Linn expects reserves at year end 2011 to be significantly higher than the 263 Bcfe Plains booked at year end 2010.  Returns are > 100%.  


Full Presentation


docFinder allows you to find acquisition details and progress... 

featured.transactions from PLS global M&A database

DateHeadlineValue
01/24/12Crescent Point acquires Wild Stream Exploration : Canada$604 MM
01/24/12EnQuest Plc acquires 25% interest in Karken field, UK North Sea from Nautical$150 MM
01/23/12DHS Services acquires Vaughnn Energy Services : Downhole Surveys$88 MM
01/23/12Apache acquires Cordillera Energy Parnters III, LLC : Granite Wash fairway$2,850 MM

Source: PLS M&A Database

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