Wed, Jul. 27, 2:02 PM
Wed, Jul. 27, 9:23 AM
Mon, Jul. 25, 5:57 PM
- Viper Energy Partners (NASDAQ:VNOM) -2% AH after announcing a public offering of 7M common units, with an underwriters option to purchase up to an additional 1.05M units.
- VNOM says it plans to use the proceeds to repay part of the outstanding borrowings under its revolving credit facility and to fund a combined $111M in purchases of interests in 601 net royalty acres in the Midland Basin and 142 net royalty acres in the Delaware Basin.
May 26, 2015, 5:43 PM
Sep. 29, 2014, 12:26 PM
- Encana’s (ECA +2.3%) takeover of Athlon Energy (ATHL +24.6%) is good news for Diamondback Energy (FANG +2.3%) and Energen (EGN +2.2%), according to analysts at Sterne Agee.
- The acquisition implies a value of $98/share for FANG, Sterne says, based on FANG's 85K net acre leasehold position, estimated 19.8K boe/day of Q3 production, $585M of assumed debt, and a $1.7B market value for the Viper Energy Partners (NASDAQ:VNOM) units it owns.
- The firm sees even more upside for EGN, as ECA’s price implies a value of $102/share for EGN, based on 180K net acres across both sides of the Permian Basin, 48K boe/day of Q3 Permian Basin production, 132M cfe/day of Q3 San Juan Basin, and $835M of pro forma net debt as of Sept. 30.
- Permian producers Laredo Petroleum (LPI +5%), Parsley Energy (PE +5%) and RSP Permian (RSPP +4.8%) also are higher following the acquisition news.
Viper Energy Partners LP engages in the provision of oil exploitation. It owns, acquires and exploits oil and natural gas properties in North America. Viper Energy Partners activities also include acquisition, holding of any corporation, partnerships, joint venture as well as limited liability.... More
Sector: Basic Materials
Industry: Independent Oil & Gas
Country: United States