JOURNAL ARTICLE

Matador to Buy Advance Energy for $1.6 Billion to Add Permian Assets.

  • Published In: Bloomberg.com, 2023. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Casey, Simon 3 of 3

Abstract

(Bloomberg) -- Matador Resources Co. agreed to acquire Advance Energy Partners Holdings LLC for about $1.6 billion in cash to add shale oil reserves in the Permian Basin of West Texas and eastern New Mexico. Matador said Advance had an estimated production in the first quarter of last year of 24,500 to 25,500 barrels of oil and natural gas equivalent per day, and that the company has about 18,500 net acres in the northern Delaware Basin, part of the larger Permian formation. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2023/01, pN.PAG
  • Document Type:Article
  • Subject Area:Environmental Sciences
  • Publication Date:2023
  • Accession Number:161489697
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