Midland-based Diamondback Energy said May 2 it acquired assets from an undisclosed seller for $230 million. The 6,200 net acres in Ward County in Delaware Basin had 2022Q1 production of 2,300 boed with an estimated 58 horizontal locations (43 net) and laterals averaging more than 10,300 feet. Enverus said the seller was Permian pure play Colgate Energy.
Matthew Kaes Van’t Hof, president and CFO, said the assets are located in “a high-rate-of-return area,” and Diamondback has already started drilling there with wells expected to come online later this year.