VTX Energy Partners is expanding its footprint in the Permian Basin following a major acquisition earlier this year.VTX agreed to acquire another 12,000 net leasehold acres in the Permian's southern Delaware Basin,the company announced in June,making good on MA hints dropped at a May Hart Energy conference by CEO Gene Shepherd.The Delaware assets include daily net production of approximately 4,000 boe/d and associated water infrastructure.Shepherd told Hart Energy that the latest acquisition in Reeves County,Texas,will significantly increase the company's inventory of undeveloped drilling locations.”This further solidifies our desire and interest in continuing to focus on the southern Delaware,and I think the same holds for Vitol,”Shepherd said.VTX,which is backed by Swiss energy trader Vitol,will grow its position to 47,000 net acres in the southern Delaware Basin when the deal closes.Closing is expected to occur by mid-July,Shepherd said.The newly acquired acreage is largely contiguous with the Red Bull play VTX purchased from Delaware Basin Investment Group(DBIG)earlier this year.
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