The Woodlands-based Earthstone Energy said June 28 it agreed to purchase assets in Delaware Basin of Titus Oil & Gas for $627 million. The assets include 7,900 net acres in Eddy and Lea counties with net production in June of 31,800 boed from 44 gross (37 net) operated wells. Titus now is using 3 rigs to drill 6 wells in Lea County. Robert J. Anderson, president and CEO, said, “We are very pleased with the execution of our operations in northern Delaware Basin assets acquired earlier this year ($604 million transaction to enter Delaware Basin) and expect to apply that knowledge to the Titus acquisition.”
