Langford Energy Partners Enters Midland Basin with Acquisition from Murchison Oil & Gas

Source: www.gulfoilandgas.com 1/13/2025, Location: North America

Affiliates of Langford Energy Partners (“LEP”), a privately held oil & gas operating company, announced today that they have closed on the acquisition of Midland Basin assets from Murchison Oil and Gas, LLC.

Management Comments

Lance Langford, LEP’s CEO, stated, “LEP’s acquisition represents a great opportunity for our team to add to its long history of operating success and delivering value to investors. We will leverage this asset as an anchor for expansion through additional bolt-on acquisitions in the Midland Basin.”

Bud Brigham, the company’s Executive Chairman added, “I’m thrilled that LEP has captured what we believe is a high-quality asset with the ideal profile to complement our stated strategy. On a personal note, it’s exciting to re-enter the area of the Midland Basin where I began my career and drilled my first wells.”

Acquisition Highlights

- Approximately 8,000 net acres primarily in Howard, Borden, and Midland Counties, TX

- Net production of approximately 7,200 boe/d (72% oil), primarily from 63 operated horizontal wells

- Substantial runway of quality, fully delineated drilling locations

- Established oil, gas, and water infrastructure, including two owned saltwater disposal wells, to support future production and development

- Acquisition closed on December 6, 2024

Financing

LEP funded the acquisition with equity from its flagship fund, Langford Energy Partners I, LP, and senior bank debt from a new credit facility led by Texas Capital Bank.

Advisors

Vartabedian Hester & Haynes LLP, Vinson & Elkins LLP, and Kirkland & Ellis LLP served as legal counsel to LEP.

RBC Richardson Barr served as exclusive financial advisor and Holland & Knight LLP served as legal counsel to Murchison.


Guyana >>  2/11/2025 - CGX Energy Inc. (TSXV: OYL) ("CGX") and Frontera Energy Corporation (TSX: FEC) ("Frontera"), joint venture partners (the "Joint Venture") in the Petro...
Brazil >>  2/10/2025 - BRAVA ENERGIA S.A. (“BRAVA” or “Company”) (B3:BRAV3), pursuant to CVM Resolution No. 44, following the Notice to the Market disclosed on December 17, ...

Brazil >>  2/10/2025 - Petro-Victory Energy Corp. ("Petro-Victory" or the "Company"), pursuant to the press release dated December 17th, 2024, is pleased to announce the sig...
Colombia >>  2/10/2025 - Etablissements Maurel & Prom S.A. ("M&P", the “Group”) is pleased to announce it has entered into a definitive agreement with NG Energy International...

Colombia >>  2/10/2025 - NG Energy International Corp. ("NGE" or the "Company") is pleased to announce that further to its news release dated January 20, 2025, it has entered ...
Namibia >>  2/7/2025 - Custos Energy (Pty) Ltd. ("Custos" or the "Company") is pleased to announce the completion of the previously announced farm-in by Chevron Namibia Expl...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.