Permian Resources has reached an agreement to buy core assets in the Delaware basin from Apache parent company APA Corp. The deal, valued at $608 million, includes 13,320 net acres, 8,700 net royalty acres and 12,000 Boe/d directly offset Permian Resources’ core New Mexico operating areas. The transaction is expected to close by the end of the second quarter of 2025.
“This acquisition is a natural fit for us and has material upside that Permian Resources is uniquely positioned to realize," said James Walter, Co-CEO of Permian Resources. "We continue to grow our high return inventory, our net royalty acre portfolio and our acreage footprint in a cost-efficient manner that reflects the current environment."
"Our overarching goal is to drive long-term value for our investors, and we believe the addition of high-quality assets adjacent to our core position, acquired during a lower commodity price environment will further enhance short and long-term returns for investors,” Walter continued.
Permian Resources has identified significant upside potential associated with the acquired assets. In addition to new operated inventory, the acquisition increases working interest in over 100 existing Permian Resources operated locations, given the sizable acreage overlap.
Additionally, the acquired properties include high-quality non-operated acreage adjacent to and surrounding Permian Resources’ current position. Utilizing its highly effective ground game, the company plans to leverage this acreage to trade for incremental interests in existing operated units or establish new operating units.
