Last week, ExxonMobil (XOM) acquired an additional 250,000 acres in the high-yield Permian Basin to more than double its presence in the region. The company paid $5.6 billion in equity to complete the purchase from the Fort Worth-based Bass family. This comes to a price of $22,400 per acre, with additional cash payments due (up to $1 billion) between the years 2020-2032 depending on the degree of development. RSP Permian (RSPP) paid over $35,000 per acre in its October 2016 acquisition of Silver Hill Energy Partners.This is expected to add the equivalent of 3.4-3.5 billion barrels of oil equivalent (boe), with 2.5-2.6 billion boe in liquid form. At even $50 per barrel, this would add $125-$130 billion in potential revenue just for the liquids alone.Including the effects of the financing, I project that shareholders’ breakeven on the deal comes to annual revenue contribution of $3 billion per year through the FY2027, assuming an EBITDA margin of 12%. Each $2.9 billion in annual revenue on top of this $3 billion will expect to add another money-on-money multiple to the transaction based on the present value of the equity. For example, $5.9 billion in annual revenue contribution from these new reserves would expect to double the present value of its contribution to the company’s market cap ($11.2 billion, or 2 * $5.6 billion).Below I provide a sensitivity chart based on inputs of EBITDA margin and per-year revenue contribution in increments of $4 billion. The leftmost column provides a baseline scenario and does not include the effects of the transaction financing, while the columns with annual revenue contributions do.Below provides relative changes in percentage terms from today’s current ~$85 share price.Accordingly, ExxonMobil has a fairly low bar to clear in order to achieve the accretive effects of this transaction. Nonetheless, the deal is still subject to execution risk and depends on how efficiently (in terms of both costs and time) the resources can be produced.