Exploration & Production | Deals - Acquisition, Mergers, Divestitures
Rosetta Acquires Permian Wolfbone Asset from Comstock
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Rosetta Resources Inc. has entered into a definitive agreement to acquire Permian Basin assets from Comstock Resources Inc. for a purchase price of approximately $768 million, subject to customary closing adjustments.
The acquisition covers 53,306 net acres (87,373 gross) located in Reeves and Gaines counties in West Texas. The Reeves County assets located in the Delaware Basin include 40,182 net acres and 74 producing (52 operated) primarily Wolfbone wells. Total current net production is approximately shalesubscribe 3,300 barrels of oil equivalent per day (Boe/d) of which more than 73 percent is oil. Rosetta projects significant growth potential for the area based on an estimated 1,300 gross, or nearly 800 net well locations targeting the Wolfbone on 40-acre vertical well spacing. The…
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