One-Page Deal Sheet
ExxonMobil Eyes HZ Development Rights in the Midland Basin
ExxonMobil, XTO Energy Inc. Endeavor Energy Resources
Announced Date
August 06,2015
Transaction Type
Property
Asset/Basin:
{"Permian Basin","Midland Basin"}
TargetZones:
{"Lower Spraberry",W
Net Acres
Transaction Details: Require Private Equity Subscription
Exxon Mobil Corporation has executed two agreements to obtain horizontal development rights in 48,000 acres in the core of the Midland Basin.
The two agreements include an acquisition and farm-in adjoining XTOs existing acreage position in Martin and Midland Counties, providing rights to all intervals within the basin. The acreage will be operated by ExxonMobils subsidiary XTO Energy Inc.
Randy Cleveland, president, XTO Energy, said: "We are continuing to grow our position in a prolific area of the Permian Basin. The recent emergence of strong Lower Spraberry results, combined with the…
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