US' St. Mary Land to pay 250 million for Texas assets

摘要

New York-Denver-based St. Mary Land & Exploration has agreed to buy a range of oil and gas assets in west Texas from several undisclosed private parties for 250 million in cash, the company said last week. The properties, in the Midland Basin, hold proved net reserves of around 78.1 Bcf of natural gas equivalent and are producing about 16,000 Mcf/d, St. Mary said. The transaction is scheduled to close by December 15 and is subject to customary due diligence and the pre-emptive right of a third party to acquire up to 20% of the assets.