EV Energy Partners LP, Houston, (Nasdaq: EVEP) plans to acquire properties in the Permian Basin from privately owned, Houston-based Plantation Petroleum Holdings III LLC, a company backed by Houston-based private-equity provider EnCap Investments LP, for $160 million. The assets are comprised of 142 wells (100% operated) producing primarily from the Yates, Seven Rivers, Queen and Morrow formations in Lea and Eddy counties, New Mexico, and Winkler County, Texas; and the Clear Fork and Wichita Albany formations in Gaines County, Texas. Net production is approximately 11.2 million cubic feet of gas equivalent per day. Proved reserves are 79.1 billion cubic feet equivalent (49% gas liquids, 51% proved developed producing).
Recommended Reading
US Oil, Gas Rigs Unchanged for Fourth Straight Week
2025-01-03 - The oil and gas rig count stayed at 589 in the week to Jan. 3. Baker Hughes said that puts the total rig count down 32 rigs, or 5% below this time last year.
Darbonne: The Power Grid Stuck in Gridlock
2025-01-03 - Greater power demand is coming but, while there isn’t enough power generation to answer the call, the transmission isn’t there either, industry members and analysts report.
Sintana Reports Two Discoveries Offshore Namibia
2025-01-02 - Sintana Energy Inc. said the Mopane-2A well found gas condensate in one reservoir and light oil in a smaller one.
Innovative Insulation: The Future of Thermal Management
2025-01-02 - Silicone-based, spray-on coating simplifies application and improves protection for downstream assets and workers.
E&P Highlights: Dec. 30, 2024
2024-12-30 - Here’s a roundup of the latest E&P headlines, including a substantial decline in methane emissions from the Permian Basin and progress toward a final investment decision on Energy Transfer’s Lake Charles LNG project.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.