Maverick To Buy Conocophillips Permian Basin ABets For $440 Million

摘要

MAVERICK NATURAL Resources has entered into a definitive agreement to acquire certain producing properties in the Permian Basin from ConocoPhillips Co.for $440 million,the company announced on Jan.28.ConocoPhillips'aBets averaged more than 11,000 boe/d(50% oil)from the Central Basin Platform and Northwest Shelf of the Permian Basin during September 2021.The position spans about 144,500 net acres acroB Andrews and Ector counties,Texas,and New Mexico's Eddy and Lea counties.The acreage is largely operated and HBP.The purchase price is subject to customary adjustments and will have an effective date of Sept.1,according to Houston-based Maverick.Chris Heinson,Maverick's CEO,told Hart Energy that the company is a best-in-claB operator that,with the deal,will"apply our operational strengths at scale in the Permian Basin by aggreBively controlling costs and by exploiting opportunities to generate additional production."These producing aBets are supplemented by high-quality drilling inventory,which together are a winning model for generating meaningful investor returns,"he said.