VTX Energy Partners, upstream company of Vitol, said Monday it will acquire 12,000 net leasehold acres contiguous with the Delaware Basin Resources position it acquired in March. The deal brings its total southern Delaware Basin position to 47,000 net acres. VTX said it agreed to acquire assets comprised of leasehold, production and associated water infrastructure for an undisclosed sum.
It is VTX’s second acquisition since the partnership was established by Vitol and VTX last year. The assets include 12,000 net leasehold acres with current daily production of approximately 4,000 boed.
Gene Shepherd, CEO, said, “This opportunity to acquire high-quality inventory and water infrastructure, contiguous to our recently closed acquisition of Delaware Basin Resources, advances VTX’s goal of building a highly profitable U.S. lower 48 upstream business with scale. With Vitol’s unique market insights, expertise and funding capabilities, we see additional opportunity to grow our business with our current focus in the southern Delaware Basin.”
VTX Energy Partners is successor company to ATX Energy Partners, an Austin-based oil and gas company pursuing acquisitions and development in U.S. lower 48.
