Riley Exploration Permian has closed the purchase of oil and natural gas leasehold in Eddy County, New Mexico, from an undisclosed seller, the company said on May 8.
Riley Permian said it closed the $20.5 million deal on May 7. The acquisition adds approximately 13,900 total net acres and an estimated 20 to 25 net locations suitable for horizontal drilling development, the company said. The acquisition adds an average 1,100 boe/d of production.
The company entered into an agreement to buy 12,500 net acres in Eddy County on March 22. In April, the company launched a stock offering, with proceeds primarily to be used for the deal.
Recommended Reading
Seadrill Sells Three Jackups for $338MM to Gulf Drilling International
2024-05-17 - Seadrill Ltd. is also selling its 50% equity interest in the joint venture that operates the rigs offshore Qatar.
Could Crescent, SilverBow Buy More in South Texas After $2.1B Deal?
2024-05-17 - The combination of Crescent Energy and SilverBow Resources will yield one of the Eagle Ford’s top producers—and the pro forma E&P could look to gobble up more acreage in South Texas after closing.
Crescent Energy to Buy Eagle Ford’s SilverBow for $2.1 Billion
2024-05-16 - Crescent Energy’s acquisition of SilverBow Resources will create the second largest Eagle Ford Shale E&P with production of about 250,000 boe/d, the companies said.
Diamondback’s Van’t Hof Plays Coy on Potential Delaware Divestiture
2024-05-16 - Diamondback Energy’s President and CFO Kaes Van't Hof also addressed new Permian exploration and the lack of “fun” dealing with the FTC on its deal to buy Endeavor Energy Resources.
Exclusive: Is TG Natural Resources Looking to Snap Up More?
2024-03-27 - At Hart Energy's DUG Gas+ Conference and Expo in Shreveport, Louisiana, TG Natural Resources' President and CEO Craig Jarchow said the integration of the Rockcliff Energy acquisition is well underway and that "being acquisitive is certainly" in the company's future.