One-Page Deal Sheet
Admiral Permian Acquires Three Rivers 59,000 Net Acres
Admiral Permian Resources, LLC Three Rivers Operating Co III LLC
Announced Date
February 20,2018
Close Date
April 23,2018
Transaction Type
Property
Enterprise Value (EV)($MM)
850
Location
Calculated Metrics( EV/Category)
Region
Permian - Delaware Basin
Country
United States
State
Texas
County
Reeves ,Culberson
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Require Private Equity Subscription
Riverstone Holdings LLC has agreed to sell 100% of the assets of Three Rivers Operating Co III LLC to Admiral Permian Resources LLC. Shale Experts values the deal at $850 million.
Admiral is a relatively new E&P backed by Riverstone and Pine Brook.
In addition, funds managed by the Private Equity Group of Ares Management have acquired a majority stake in Admiral.
This includes more than 59,000 net acres in Reeves and Culberson Counties in West Texas. The properties produced more than 15,000 net barrels of oil equivalent per day in March.
Three Rivers' assets are focused in the Permian Basin
Permian - Delaware Basin Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Mar-10-2026 |
-  |
- |
Click here | Texas | E&P |
| Sep-02-2025 |
- |
- |
Click here | Texas | E&P |
| May-07-2025 |
- |
- |
Click here | New Mexico | E&P |
| May-03-2025 |
- |
- |
Click here | New Mexico | E&P |
| Nov-13-2024 |
- |
- |
Click here | New Mexico | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Jul-30-2024 | Permian Resources Acquires More Delaware Basin Property | - |
- |
| Jul-28-2024 | Vital Energy Acquires Delaware Basin Property From PE-Backed E&P | - |
- |
| Jun-12-2024 | Matador Resources Acquires PE-Backed Ameredev For $1.9 Billion | - |
- |