Gulfport Energy Corp., Oklahoma City, (Nasdaq: GPOR) and Windsor Permian LLC, a subsidiary of Wexford Capital LLC, Greenwich, Conn., plan to acquire 50% working interest each in the Permian Basin in West Texas from ExL Petroleum LP, Midland, Texas, for some $170 million. Gulfport and Windsor will each pay some $85 million. The assets include 4,100 net acres each to Gulfport and Windsor in Upton and Midland counties with 32 gross wells predominately from the Wolfcamp formation. Production is 800 net barrels of oil equivalent a day to each company (64% oil, 23% gas liquids, 13% gas). Proved net reserves are 6.9 million barrels of oil equivalent each, with 23% proved developed producing.
Recommended Reading
DT Midstream Closes $1.2B Midwest Pipeline Acquisition with ONEOK
2024-12-31 - DT Midstream acquired three pipelines with more than 3.7 Bcf/d of capacity that span approximately 1,300 miles across seven states.
Summit Midstream Completes $450MM Tall Oak Acquisition
2024-12-03 - Summit said the motivation for the acquisition of Tall Oak Midstream III was to rebalance the company’s portfolio between oil and gas assets.
DT Midstream to Buy 3 Pipe Networks from ONEOK in $1.2B Deal
2024-11-19 - ONEOK plans to use the proceeds from the sale of the Guardian Pipeline, Midwestern Gas Transmission and Viking Gas Transmission to focus on other operational priorities.
Diversified Bolts-On Appalachia Gas Production, Midstream Assets
2025-01-06 - Diversified Energy will buy Summit Natural Resources’ assets, including producing wells and coal mine methane wells, in the southern part of the Appalachian Basin.
Delek Closes $285MM Buyout of Permian’s Gravity Water Midstream
2025-01-03 - Delek Logistics continues to focus on bolstering its Permian Basin infrastructure holdings with the acquisition of Gravity Water Midstream.
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.