BBEPQ TRADING AT 15 cents makes no Sense when you compare it to Parsley
Parsley Energy Inc, Or Clayton Williams energy ( just aquired by Noble Energy).
Parsley an Austin-based oil-and-gas driller whose performance during the downturn in crude prices was the envy of many in the energy sector, is taking its biggest bite yet out of the Permian Basin.The company announced Tuesday that it would spend about $2.8 billion for 71,000 net acres in the Permian,
Another sale from the Permian Basin to Noble energy
The transaction is worth $3.2 billion, post Noble Energy’s assumption of Clayton Williams’ net debt of $500 million. Clayton Williams’ shareholders are entitled to 2.7874 shares of Noble Energy common stock and $34.75 in cash for each share of common stock held.
The Permian Basin is Breitburn’s largest producing area by estimated proved reserves. Breitburn first entered the Permian in 2012 through two strategic acquisitions, with just over 200 productive wells and 18,000 gross acres. Today, Breitburn has grown its position to 3,164 wells across 123,277 gross acres.The acreage alone in permian basin is worth 6 billion if you count the last 2 sales in the permian basin
