Medicine Hat, Alberta-based Fury Resources said Dec. 15 it agreed to acquire Houston-based Battalion Oil in a deal valued at $450 million. Avi Mirman, executive chairman, said the transaction represents a return to the Delaware Basin for Fury Resources. “We are well positioned to drive value growth for our investors as we return the asset to active development,” he said. “Our team has a strong understanding of the subsurface as well as the capital constraints… We believe we can leverage our deep knowledge of the basin and combined operational excellence to fully unlock the asset’s potential.”
Average daily net production in third quarter was 12,717 boed (46 percent oil) compared to 16,228 boed (50 percent oil) in 3Q2022 for the acquired assets. In 3Q Battalion began drilling on a two-well pad in Monument Draw.