VTX has completed its previously announced acquisition of Delaware Basin Resources and associated surface and water businesses. The assets comprise of 35,000 net leasehold acres and 46,000 surface acres across Reeves and Pecos counties in the Delaware Basin, with current production of approximately 40,000 barrels of oil equivalent per day.
“This is the starting step of our plan to build a significant producer in the Delaware Basin,” said Gene Shepherd, CEO, VTX. “We are excited to have closed our first acquisition since the launch of our partnership with Vitol. We look forward to growing our asset position, initially focused in the southern Delaware Basin.”
Ben Marshall, Vitol Head of Americas added: “This represents our second scale acquisition in the US shale patch. We believe the investment opportunity in upstream will remain attractive and are hopeful the VTX team can leverage our partnership to target new investment opportunities and build VTX into a sizeable producer.”
About VTX Energy Partners, LLC
VTX Energy Partners is the successor company to ATX Energy Partners, an Austin-based oil and gas company pursuing an acquisition and development strategy in the U.S. Lower 48. The management team has a proven track record of prudent asset management and value creation dating back to Brigham Exploration, which sold to Statoil for $4.7 billion in October 2011, and Brigham Resources, which sold to Diamondback Energy for $2.6 billion in December 2016. Please direct all business development inquiries to BD@vtxep.com.
Vitol is a leader in the energy sector with a presence across the spectrum: from oil through to power, renewables and carbon. It trades 7.4 million barrels per day of crude oil and products, and charters circa 6,000 sea voyages every year.
Vitol’s clients include national oil companies, multinationals, leading industrial companies and utilities. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including: 17 m m3 of storage globally, circa 500 k b/d of refining capacity, over 7,000 service stations and a growing portfolio of transitional and renewable energy assets. Revenues in 2022 were $505 billion.
For more information: vcorp2022stg.wpengine.com