Athlon Energy has entered into multiple definitive agreements with five unrelated third-party sellers to acquire certain producing properties and undeveloped acreage for an aggregate purchase price of $873 million in cash.

The properties are 100% operated and are concentrated primarily on the western side of the northern Midland Basin in Martin, Upton, Andrews, and Glasscock counties, in proximity to the Company's existing operating areas.

These properties will require one vertical rig drilling approximately 20 wells per year to hold the acreage, which the Company believes can be accomplished through reallocation of its existing eight vertical rig fleet.

Tags: Athlon Energy