Approach closes on sale of southern Midland oil line interests

Fort Worth-based independent Approach Resources Inc. and partner Wildcat Permian Services LLC have closed on the previously reported sale of Wildcat to an affiliate of JP Energy Development LP for $210 million in cash. Cash proceeds to Approach are expected to be $108 million.

Approach’s core operations, production, and reserves are in the Permian basin in West Texas. The company operates 152,000 net acres in the Permian, targeting multiple oil and liquids-rich formations.

In January 2011, Approach added to its 109,000-net-acre position in the southern Midland basin by purchasing 10,900 contiguous net acres in northeastern Crockett County, Tex., from undisclosed private sellers (OGJ Online, Jan. 27, 2011).

Related Articles

AMP acquires Costar Midstream for $470 million

10/15/2014 American Midstream Partners LP (AMP), Denver, has acquired Costar Midstream LLC from Energy Spectrum Partners VI LP and Costar management for $470 ...

BHI: Permian drives gains in weekly, yearly US rig count

10/10/2014 The US drilling rig count gained 8 units to reach 1,930 rigs working during the week ended Oct. 10, driven in large part by growth in the Permian b...

Targa Resources adding processing for Permian, Williston production

10/08/2014 Targa Resources Partners LP, Houston, will expand its natural gas gathering and processing capabilities in the Permian and Williston basins, the co...

KKR, FDL to acquire Permian properties

10/06/2014 A partnership of KKR Natural Resources (KKR) and Fleur de Lis Energy (FDL), Dallas, has agreed to acquire certain oil and gas properties in Ector a...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected