Diamondback Closes TRP Acreage Swap for Midland Assets
Transaction Type
Sellers
Buyers
Basin
Permian Basin
Announce Date
Post Date
Estimated Price
0MM
Description
Diamondback Energy closed an acreage trade with TRP Energy, adding inventory in the southern Midland Basin.
Under terms of the TRP trade, announced last November, Diamondback traded certain Delaware Basin assets and paid $238 million in cash in exchange for TRP’s Midland Basin assets.
TRP’s Midland holdings included around 15,000 net acres in Upton and Reagan counties, Texas, 55 undeveloped locations and 18 DUCs.
The TRP transaction closed in December, Diamondback said in fourth-quarter earnings published Feb. 24.