Houston-based Battalion Oil Corp. said this week it will acquire oil and gas assets of 7,090 net acres in Ward County in Permian Basin from RoadRunner Resource Holding (formerly Sundown Energy). The acquired leases are adjacent to Battalion’s existing Monument Draw position to allow long lateral development and operational efficiencies. Battalion expects to add 30 high-quality net locations targeting Wolfcamp A and B and third Bone Spring formations.
Battalion also will acquire Sundown’s ownership interest in an existing well operated by Battalion on the footprint.
Matt Steele, CEO, said Tuesday, “Having previously operated and drilled on this exact acreage during our joint venture, we have seen the exceptional well results firsthand. Consolidating this contiguous acreage into our Monument Draw position is a natural fit… Our recent sour gas treatment agreement with Targa means we have the infrastructure in place to efficiently develop these assets.”