Two days after Christmas, during vacation days that are often marked by a year-end rush to conclude business, Denver-based DJR Energy LLC closed on its acquisition of Encana Oil & Gas (USA) Inc.’s San Juan Basin assets in New Mexico. It paid US$480 million, or as calculated by a Jefferies analyst, $35,000 per flowing barrels of oil equivalent (boe).

The deal included approximately 182,000 net acres. In 2017, these assets produced about 5,400 boe/d, including 3,900 boe/d of liquids, according to Encana.

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Onshore