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Surge Energy Inc. subsidiary, Moss Creek Resources Holdings Inc., has acquired leasehold interest and wells from Apache Corp. for $37.5 million.
Deal Details:
- Acreage: 4,000 net (100% HBP) in Howard County, TX
- Drilling Locations: 14 net
- Production: 800 BOEPD
- Includes salt water disposal infrastructure and approximately 960 surface acres
Chief Executive Officer Linhua Guan stated: "This acquisition is consistent with our objective of strategically adding to our portfolio. Based on the location of this acreage, it allows us to extend laterals from our existing leasehold that should result in increased economics and capital efficiency.”
The Transaction closed on July 30.
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