Sequitur Energy Resources LLC recently added to its Permian Basin footprint, the company said Aug. 5.
The Houston company's affiliate, Sequitur Permian LLC, acquired producing properties in the Southern Midland Basin. The assets are located in the Impossible and Barnyard fields in Reagan, Crockett, Irion and Schleicher counties in West Texas.
The seller and terms of the acquisition weren't disclosed.
The properties have current production of about 10,000 net barrels of oil equivalent per day. Sequitur will operate 100% of the acquired assets.
The acquisition also includes an inventory of development opportunities in the Wolfcamp formations and gas and water gathering facilities connected to multiple third-party processing facilities, according to a press release.
“This acquisition further expands our Permian Basin footprint and provides Sequitur with meaningful opportunities for growth," Scott D. Josey, Sequitur's CEO, said in a statement.
Josey also said the assets complement the company's existing position in the Buda-Rose play in East Texas.
Vinson & Elkins LLP was Sequitur's legal adviser.
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