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Athlon Energy Upping Ante in the Permian; Inks Big Acreage Deal
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Athlon Energy is looking to bolster its holdings in the Permian Basin. Late yesterday, the company reported that it had signed a deal to acquire a sizable property/acreage package in the play from several third-party sellers.
The deal is worth $873 million.
The acreage spans several counties in the Midland Basin area of the Permian and encompasses multiple plays including Wolfcamp, Clearfork and Spraberry.
Bob Reeves, Chairman, President & Chief Executive Officer, commented: "Today’s acquisitions exemplify Athlon’s core strategy of acquiring only high-quality properties, demanding strong economic returns, and applying extensive technical expertise to exploit our huge resource potential through the drill bit. With our portfolio of premier assets, Athlon is proud to be a top-tier operator…
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