Spur Energy Strikes Again With $925 Million Concho Deal
Roughly four months since making its debut with its first acquisition, Jay Graham’s new Permian-focused venture has landed another deal.
The Concho transaction follows Spur Energy’s acquisition in May of Percussion Petroleum LLC, a private-equity backed company focused in the Permian Northwest Shelf of New Mexico. (Source: Hart Energy)
Spur Energy Partners LLC—the new Permian-focused company led by Jay Graham—has struck again.
Roughly four months since making its debut with its first acquisition and partnership with New York-based investment firm KKR, Graham’s new venture has landed another deal—this time with one of the largest unconventional shale producers in the Permian Basin.
On Sept. 3, Concho Resources Inc. said it had agreed to sell its assets in the New Mexico Shelf to an affiliate of Spur Energy for $925 million. The divestiture includes roughly 100,000 gross acres and about 25,000 barrels of oil equivalent per day (boe/d) of current production.