I see that BHP Billiton has just permitted 4 new CUL wells in the Elm Grove Field, T16N,R11W, Sections 23 & 26.
I thought that BHP Billiton had sold their Haynesville properties to BP America. What gives?
The $12.1B represented a premium per share of 60%. Numerous articles from trust worthy energy media outlets used an acquisition price of $15B and that did not include the $4.75B BHP paid for Fayetteville acreage. I assume there were some outstanding debt or other financial obligations that pushed the projected cost to $15B.
BHP not only had poor timing, they overpaid by almost everyone's estimation for the Haynesville and Fayetteville rights. There is plenty of risk to go around for every player in the O&G industry. I'd venture a guess that the guys in the C-suites have no better than a 50/50 record pulling the trigger on such deals.
Rock Man, I want to ask you about another area in the ArkLaTex, since you have so much experience, but don't want to divert from this discussion. I don't know how to do this, any suggestions without starting a new group? Thank You!
Go to the "Add a Discussion" tab in the upper right side of this discussion page. Should be right adjacent to the topic header for this discussion
Or, if the question is location specific and you want GHS members interested in the same area to weigh in, post in the appropriate county or parish group. Choose View All under Groups in the far right hand column.
If you want to discuss with RM off of the Main Page or a group page, "friend" him and post on his personal page. Simply click his name in blue.