VTX has completed its previously announced acquisition of Delaware Basin Resources and associated surface and water businesses. The assets comprise of 35,000 net leasehold acres and 46,000 surface acres across Reeves and Pecos counties in the Delaware Basin, with current production of approximately 40,000 barrels of oil equivalent per day.
“This is the starting step of our plan to build a significant producer in the Delaware Basin,” said Gene Shepherd, CEO, VTX. “We are excited to have closed our first acquisition since the launch of our partnership with Vitol. We look forward to growing our asset position, initially focused in the southern Delaware Basin.”
Ben Marshall, Vitol Head of Americas added: “This represents our second scale acquisition in the US shale patch. We believe the investment opportunity in upstream will remain attractive and are hopeful the VTX team can leverage our partnership to target new investment opportunities and build VTX into a sizeable producer.”
For more information visit www.vitol.com
