Legacy Reserves LP, Midland, Texas, (Nasdaq: LGCY) plans to acquire certain producing properties in the Permian Basin from an undisclosed private seller for $15.3 million in cash and has acquired Permian Basin assets from undisclosed private sellers for $6.1 million for a total $21.4 million. The pending deal includes 93 operated producing wells near Legacy's existing operations. Net production is approximately 159 barrels of oil equivalent per day. Proved reserves are 783,000 barrels equivalent (100% proved developed producing). The closed deal includes 31 operated producing wells near Legacy's existing operations. Net production is 90 barrels equivalent per day. Proved reserves are 573,000 barrels equivalent (81% proved developed producing).
Recommended Reading
ONEOK Secures Traffic for Growing Midstream Network with $5.9B Deal
2024-08-29 - ONEOK’s latest deals to acquire controlling interest in midstream companies EnLink and Medallion are considered “neutral” for the company’s credit rating.
ONEOK’s EnLink/Medallion Deal is Market-wise, Financially Astute
2024-10-11 - In addition to bolstering its multi-basin network, ONEOK pulled off a $5.9 billion transaction while leaving its credit rating intact.
ONEOK’s Acquisitions Pay Off with Increased Earnings
2024-10-31 - ONEOK Inc. also announced the completion of its $2.6 billion Medallion Midstream deal.
ONEOK to Acquire Permian’s EnLink, Medallion Midstream for $5.9 Billion
2024-08-29 - ONEOK will acquire Global Infrastructure Partners’ interests in EnLink Midstream and Medallion Midstream, which add scale in the Permian, Midcontinent and Louisiana, in separate transactions valued at $5.9 billion.
‘Knife Fight’ for NGLs Driving Midstream Mergers in 2024
2024-09-05 - The latest acquisitions in the midstream sector are focusing on natural gas gathering and processing to secure a spot in the lucrative NGL market.
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.