Transaction Details: 

Northern Oil and Gas has acquired non-operated interests in the Delaware Basin from Alpha Energy Partners for a purchase price of $157.5 million in cash.

Deal Highlights:

• Land: 2,800 net acres located in Lea and Eddy counties, NM and Loving County, TX

• Type: Non-Op

• Production: 3-3.5mbo/d

• Stream: 68% Oil

• Price: $157million (plus $25million contingency)

The deal includes a contingent where as if oil > $87/bbl for the first six months of 2023, the company will pay an additional $25 million.

The acquired assets are located in Lea and Eddy counties, NM and Loving County, TX, and include approximately 2,800 acres, 9.6 net producing wells, 2.8 net AFEs and wells-in-process and approximately 21.2 net undeveloped locations.

The primary operator of the assets is Mewbourne Oil, among others such as Conoco and EOG.  The assets are located in the northern delaware area.

Deal Presentation.

Permian Deal Activity In Last 12 Months