Scandoil.com

Legacy Reserves acquires Texas Permian Basin assets


Published Mar 30, 2010
[an error occurred while processing this directive]

Edit page New page Hide edit links

Legacy Reserves LP to acquire oil and natural gas producing properties for $20.8 million-Spotlight

Legacy Reserves LP has entered into an agreement with Brigham Exploration Co. to purchase oil and gas properties located in the Permian Basin for $14.0 million, subject to customary closing adjustments. The subject properties produce approximately 233 Boe per day, of which 90% is oil. The closing is expected to be on or about April 30, 2010.

Over 75% of the properties by value are operated, and the production is in close proximity to existing Legacy assets. The wells are located primarily in Dawson, Howard, Midland and Stonewall counties in the Permian Basin. Cary Brown, Legacy's Chairman and Chief Executive Officer, commented, "This acquisition fits in our existing Permian Basin footprint and allows us to continue to grow our production and reserve base. Including this acquisition, we will have acquired oil and gas properties totaling approximately $146 million year to date."

Tags: Legacy Reserves LP




   

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us

 

sitemap xml


 

Home