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A&D - Acreage values fall toward 2015 levels as E&Ps focus on FCF - February 2020
In 2019, E&P companies took to heart Wall Street’s emphatic push to refocus from growth to generating free cash flow. That has dampened demand for undeveloped leasehold and led to a decline in acreage values across unconventional plays from highs set in the 2016-2018 land buying boom. The Permian was the epicenter of land buying during that time and saw a rapid escalation in leasehold prices, particularly in the Delaware Basin. As public companies......
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