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

11/20/2000
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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