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Stock Market & Financial Investment News

News Breaks
July 25, 2014
09:01 EDTRSPPRSP Permian agrees to acquire Midland Basin assets for $259M
SP Permian announced it has entered into definitive agreements in separate transactions with multiple sellers to acquire certain undeveloped acreage and oil and gas producing properties located in Glasscock County for an approximate aggregate price of $259M in cash, subject to certain adjustments. the acquisition consists of 7,680 gross surface acres or 21,440 gross effective horizontal acres in Glasscock County. It has an aggregate current net production of approximately 1,106 Boe/d with 13 vertical wells drilled to date and net proved reserves of approximately 22M Boe with over 125 million Boe of resource potential based on internal estimates.
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