💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Centennial Resources buys Delaware Basin properties for $350M

Published 05/01/2017, 07:33 AM
© Reuters.  Centennial Resources buys Delaware Basin properties for $350M
PR
-
  • Centennial Resource Development (NASDAQ:CDEV) agrees to acquire certain undeveloped acreage and producing oil and gas properties in the core of the Northern Delaware Basin from GMT Exploration for ~$350M.
  • CDEV says the deal increases its Delaware Basin position to 88K net acres from 76K net acres at year-end 2016.
  • As a result of the deal, CDEV raises its 2020 production target to 60K bbl/day of oil from a previous 50K bbl/day, which would represent a ~80% four-year compound annual oil growth rate during 2016-20.
  • Now read: E&P IPO: Should Investors Be Seeking This (Ad)Vantage In Energy?


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.