Dallas-based private equity firm Tailwater Capital and its upstream investment platform Tailwater E&P said recently they have acquired a diversified, non-operated leasehold position in northern Delaware Basin in Eddy and Lea counties in New Mexico. The acquired asset covers about 35,000 gross acres and includes exposure to more than 900 gross wells. The acreage is 97 percent held by production and features “significant near-term development activity under premier operators,” including Coterra, Devon, Matador and Mewbourne.
Doug Prieto, partner, said Jan. 20, “The position adds premium inventory and near-term development visibility in one of the most active and productive regions in the lower 48.”
The investment includes access to more than 250 near-term DUC, AFE and permitted locations.
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