VTX Energy Partners, U.S. upstream unit of global energy company Vitol, Inc., said Jan. 19 it will acquire Midland’s Delaware Basin Resources and its associated surface and water businesses. The deal is VTX’s first acquisition since the partnership was established by Vitol and VTX last year. Assets to be acquired include 35,000 net leasehold acres and 46,000 surface acres in Pecos and Reeves counties with current daily production of about 40,000 boed (70 percent oil). VTX Energy Partners is the successor company to Austin-based ATX Energy Partners.
Gene Shepherd, CEO of VTX, said, “The opportunity to go back to work in the southern Delaware Basin, combined with the opportunity to do so with the DBR asset base and team, is very exciting. With Vitol’s unique market insights, expertise and funding capabilities, we expect this transaction will serve as the foundation for growing a highly profitable U.S. lower 48-focused upstream business over the next decade.” Purchase price was not announced.
