Minneapolis-based Northern Oil and Gas said Dec. 19 it closed on a previously announced acquisition of non-operated interests from a private seller in northern Delaware Basin for $131.6 million. The bolt-on assets include 2,100 net acres in Eddy and Lea counties in New Mexico and Loving and Winkler counties in Texas. Average production for 2023 is expected to be 2,500 boed (68 percent oil). Primary operators are Mewbourne Oil, Coterra Energy and Permian Resources.
Adam Dirlam, president, said, “The assets contain high-quality, low-breakeven development that is leveraged to some of NOG’s top operating partners.”