Meta Materials Inc (MMATQ)

[Southern Gal]

As a reference to TRCH's value:

Trch in 2019, 3.7 billion estimated Barrels on 133,000 acres.
Cwei In 2017, 2 billion estimated Barrels on 120,000 acres.
Cwei (Clayton Williams) sold in 2017 for $3,200,000,000.

Noble Energy to buy Clayton Williams Energy for $2.7 billion
https://www.globenewswire.com/news-release/2017/04/25/970871/0/en/Noble-Energy-Closes-Acquisition-of-Clayton-Williams-Energy.html
https://www.reuters.com/article/us-noble-energy-m-a-clayton-williams-idUSKBN1502CQ

(Reuters) - Oil producer Noble Energy Inc (NBL.N) said on Monday it would buy smaller rival Clayton Williams Energy Inc CWEI.N for about $2.7 billion in a cash-and-stock deal to enhance its presence in the Permian Basin, the top U.S. oil field.

Noble Energy said the deal includes 71,000 net acres in the core of the Southern Delaware Basin in Reeves and Ward counties in Texas, which are a part of the larger Permian Basin.

The Permian basin has seen a slew of land acquisitions as producers scramble to gain or expand positions in the oil field, where drilling costs are low, in preparation for recovering oil prices.

Under the deal’s terms, Clayton Williams shareholders would receive 2.7874 shares of Noble Energy common stock and $34.75 in cash for each share of common stock held.

The value of the transaction, based on Noble Energy’s closing stock price as of Jan. 13, is about $139 per Clayton Williams Energy share or $3.2 billion in aggregate, including the assumption of about $500 million in net debt, the company said.