One-Page Deal Sheet
Riley Permian Acquires PE-Backed Silverback II For $142million
Riley Exploration Permian Inc. Silverback Exploration II LLC
Announced Date
May 03,2025
Effective Date
May 03,2025
Close Date
July 01,2025
Transaction Type
Asset
Enterprise Value (EV)($MM)
142
Asset/Basin:
["Permian Basin"]
TargetZones:
["Yeso Trend"]
Net Acres
% Oil:
Location
Calculated Metrics( EV/Category)
Region
Permian - Delaware Basin
Country
United States
State
New Mexico
County
Eddy
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Require Private Equity Subscription
Riley Permian's Acquisition of Silverback Exploration II, LLC
Transaction Overview:
Date of Agreement: May 3, 2025
Buyer: Riley Exploration – Permian, LLC (subsidiary of Riley Permian)
Sellers: Silverback Legacy, LLC and Silverback Blocker, LLC
Target: 100% of Silverback Exploration II, LLC and its subsidiaries
Purchase Price:
Base Price: ~$142 million (subject to customary adjustments)
Earnouts: Up to $1.875 million/quarter in 2026–2027
Triggered if NYMEX WTI average exceeds $70–$75/barrel thresholds
Asset Highlights:
Net Acreage: ~47,000 net acres in Eddy County, NM
Permian - Delaware Basin Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($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 |
| Nov-13-2024 |
- |
- |
Click here | New Mexico | E&P |
| Jul-30-2024 |
- |
- |
Click here | Texas | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Feb-02-2026 | Devon Acquires Coterra Energy; Bulk Up on Permian, Adds Gas Bank | - |
- |
| Nov-03-2025 | SM Energy, Civitas Strike $12.8B All-Stock Merger | - |
- |
| Sep-02-2025 | Crescent Energy Acquires Vital | - |
- |