Dallas-based Ellipsis U.S. Onshore Holdings said recently is acquired non-operated assets in three basins, including Permian. Ellipsis is an affiliate of Houston-based investment firm Westlawn Group. Purchase price was not disclosed for assets with current production of more than 6,000 boed with “significant operational upside associated with approximately 550 gross remaining locations.”
The Permian assets are located in both New Mexico and Texas, and the other acquisitions are in DJ Basin in Colorado and Texas-Louisiana Salt Basin in Louisiana. Ellipsis anticipates 2024 production of 13,000 boed. Matt Gentry, managing director, said Dec. 22, “Closing 2023 with our third significant acquisition marks a major milestone for our company. We are excited to advance our non-operated asset strategy in 2024 with a continued focus on both marketed and off-market opportunities.”