Cornerstone: US reserve values bounce back despite lag in deal activity

Click here to enlarge imageThe value of reserves in US oil and gas asset transactions rose in the third quarter of this year, despite a lag in the number of deals. The median value of these transactions reached $5.05/boe in the third quarter vs. a revised price of $4.55/boe in the second quarter of this year and $4.66/boe in third quarter 1999 (see chart).So says Houston-based investment banking firm Cornerstone Ventures LP in a recently released quarterly reserve report.Also, the aggregate value of US onshore merger and acquisition (M&A) activity for the third quarter was $19.2 billion vs. $37.8 billion during the second quarter, Cornerstone said. These deals consisted of 2% cash, 60% ...

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