Houston-based Vencer Energy, U.S. upstream unit of oil trader Vitol, said April 30 it agreed to purchase Midland Basin assets of Hunt Oil Co. Vencer is acquiring 44,000 acres in five counties with current production of 40,000 boed. Purchase price was not announced. The acquisition is the first for Vencer, which began last year.
Ben Marshall, head of Americas for Vitol, said, “This is an important day for Vencer as it establishes itself as a significant shale producer in the U.S. lower 48… Vitol has a long history of investing in quality upstream assets, and we are pleased to add this business to our global platform. This acquisition represents an initial step to building a larger, durable platform in the U.S. lower 48.”