Friday, August 23, 2013

TMS Transaction History

An energy research firm recently published a report on the Tuscaloosa Marine Shale transactions.  The report noted the wide variation in prices.  A chronological review of the transactions reveals an interesting trend of late.  The "backside" of the storm might be upon us with values rapidly accelerating.


Source: www.devon.com, www.goodrichpetroleum.com, www.sanchezog.com, personal communication
Note that the Devon/Sinopec value in 2011 was based on an average across all five projects involved in the joint venture.  The Sanchez/Sanchez valuation includes the value of the carried interest at $13M per well.  Additional details not displayed on the chart are confidential.

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