Jagged Peak Energy Inc. (NYSE: JAG) clawed its way to $69.1 million in acquisitions in 2017 despite what CEO Joe Jaggers described as A&D “combat, acre by acre.”

The company said March 22 it secured 9,200 net acres of Permian leasehold interest at an average cost of about $7,500 per acre in the Eastern Delaware Basin in Winkler, Ward, Reeves and Pecos counties, Texas. The acreage trickled in at about 2,100 acres per quarter.

“Our acreage has increased to [about] 75,200 net acres, up 14% through the year,” Jaggers said on a March 23 earnings call that would be his last as CEO after his retirement this week.

To read the full story