Surge Energy America, subsidiary of Houston-based Surge Energy US Holdings, said this week it agreed to acquire leasehold interest and producing wells in Howard County from Grenadier Energy Partners for $420 million. The acreage includes average production of 9,000 boed (75 percent oil), 18,100 leasehold acres, and an operated inventory of 120 future drilling locations.
Linhua Guan, Surge CEO, said Sunday, “The combination of both production and high-quality inventory supports both near-term cash flow and strong economic returns for years to come.” Surge Energy US Holdings is an independent oil and natural gas company focused on development, production and acquisition of oil and natural gas in Midland Basin.