Hunt Oil – Marubeni $1.3 Billion Eagle Ford Shale JV

Marubeni Corporation and Hunt Oil have reached a joint venture (JV) agreement whereby the Japanese company is acquiring 52,000 net acres for $1.3 billion. Hunt Oil is just the latest of many Eagle Ford Shale operators to sell a non-operated interest in their acreage.

The $1.3 billion for 52,000 acres equates to a ~$25,000 per acre valuation undiscounted. The deal value will be split between an upfront payment and a carried interset in development of the play until the $1.3 billion is spent.

Hunt and Marubeni have combined interest in almost 150,000 acres and will jointly acquire additional acreage across the play. Hunt Oil operates wells or has operated a rig in Gonzales County, Karnes County, La Salle County, McMullen County, and Wilson County in our coverage area. We assume this deal covers much if not all of this area. Neither Hunt nor Marubeni disclosed the location of the JV’s acreage.

Marubeni has positioned its energy and mineral resources business, including oil and gas exploration and development, as a strategically important business area, and has already been involved in projects in the Gulf of Mexico, the North Sea (U.K.), India, Qatar and the Niobrara Shale Oil (U.S.), which started its initial oil production in October, 2011. As the result of this Project, Marubeni’s total acreage for shale oil play is approximately 72,000 net acres, which makes Marubeni the largest acreage holder among Japanese firms.

Read the full press release at maurbeni.com

 

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R.T. Dukes

R.T. Dukes

Managing Editor at EagleFordShale.com
R.T. is the managing editor of EagleFordShale.com. In prior roles, he advised major oil companies on strategy, the macro business environment, and opportunity screening. 2503 Robinhood, Houston, TX, 77005, U.S.A. | Telephone: 832.429.4790

Comments

  1. Mark Goodman says:

    I tried accessing the Eagle Ford Operators site and get a message the page cannot be found???

  2. Gary Jessop says:

    I am with a company from Canada that has a downhole vibration tool that mitigates the effects of static friction when slide drilling in horizontal sections. I am confident that our tool would be an asset to the operators down there as it increases tool face control, Rop & reduces or eliminates stick slip. I need a list of the drilling managers from the operators to present this too. Would you be able to help me with this.

    Thanks much.

  3. Jerry House says:

    I operate a small manual choke company working flowback, we are presently working in the Eagle Ford. I am presently trying to plan our growth strategy for the next two years. Is there a list somewhere of the operations managers for all the players in this field?, or what is the best way for me to approach them. Most Sincerely, J. Kenneth House.

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