Houston-based Maverick Natural Resources said last week it agreed to acquire producing properties in Permian Basin from ConocoPhillips for $440 million. The assets in central basin platform and northwest shelf produced more than 11,000 boed (50 percent oil) in September 2021. The position spans about 144,500 net acres in Andrews and Ector counties in Texas and Eddy and Lea counties in New Mexico (largely operated and held by production). Maverick’s production will increase 16 percent to 78,000 boed. Closing is expected in 2022Q2.
Chris Henson, CEO, said Jan. 28, “This Permian acquisition expands the scale of Maverick’s operations and provides high-quality, oil-weighted drilling inventory. The transaction highlights our portfolio focus in Texas and Oklahoma.”