Dallas-based LandBridge said this week it acquired about 46,000 contiguous surface acres in southern Delaware Basin for $245 million in cash from a subsidiary of VTX Energy Partners. Wolf Bone Ranch, located adjacent to LandBridge’s existing acreage in Reeves County, is “well positioned at a strategic intersection of oil and natural gas exploration and transportation” with access to Waha gas market hub. The land also supports produced water operations with current volumes of about 300,000 barrels per day serviced by infrastructure owned and operated by VTX Energy.
Jason Long, CEO, said Tuesday, “We see significant opportunities for a broad range of industrial development and revenue growth on the Wolf Bone Ranch. These opportunities include commercial real estate opportunities along the seven miles of Highway 285 frontage and potential digital infrastructure and renewable energy projects.”
LandBridge owns about 221,000 surface acres across Texas and New Mexico, primarily in the heart of the Delaware Basin. It was formed in 2021 by Five Point Energy.