Property acquisitions-1: They paid how much for that producing property?

10/29/2001
How often have you uttered those words on learning the price of a winning bid for an oil and gas producing property, especially one you have evaluated or even submitted a bid?On many occasions, however, subsequent events justify the price paid for acquisitions. The ongoing trend of "paying too much," sometimes known as winner's curse, is usually not the result of poor evaluation practices but of a combination of factors and techniques designed to extract the maximum value for the buyer.Part one of this article discusses how much companies are paying for properties today compared with typical parameters used 15-20 years ago. Part two of this article, to be published next week, attempts...
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