Vitol’s US upstream company, VTX Energy Partners, has announced an agreement to acquire 12 000 net leasehold acres contiguous with the Delaware Basin Resources position acquired in March, bringing its total Southern Delaware Basin position to 47 000 net acres.
VTX has announced it has agreed to acquire assets comprising leasehold, production and associated water infrastructure for an undisclosed sum. It is the Company’s second acquisition since the partnership was established by Vitol and VTX last year. The assets include 12 000 net leasehold acres with current daily production of approximately 4 million boe/d.
Gene Shepherd, VTX CEO, said: “This opportunity to acquire high quality inventory and water infrastructure, contiguous to our recently closed acquisition of Delaware Basin Resources, advances VTX’s goal of building a highly profitable US Lower 48 upstream business with scale.”
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/07062023/vitols-vtx-to-add-to-southern-delaware-basin-platform/