If you take a quick and easy $35k per flowing Boe, allocation of value to production is ~$1.4 Bn, which means ~$2.7 Bn of value is allocated to upside (34% production, 66% upside). However, my gut (as well as likely many others) says that these production numbers are sandbagged. Potentially heavily sandbagged. I can’t imagine Diamondback paying $7.9 MM / net 10K.
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