Comprehensive Energy Data Intelligence

Information About Energy Companies, Their Assets, Market Deals, Industry Documents and More...

Riley Permian Secures $330 Million Acquisition in Thriving New Mexico: A Strategic Move with Promising Returns

In a big move for Riley Permian, the company has just closed a deal to acquire top-of-the-line oil and gas assets in the heart of New Mexico. The acquisition, which was made in February, saw Riley Permian snapping up these highly sought-after resources from none other than Pecos Oil & Gas LLC for $330 million.

Exciting news from Riley Exploration Permian Inc.! The company has just announced the successful completion of its acquisition of premium oil and natural gas assets located in New Mexico. In a deal that was initially announced back in February, Riley Exploration has acquired:

11,700 contiguous net acres in Eddy County, New Mexico.
Over 100 gross horizontal development drilling locations.

The acquisition, which was made from Pecos Oil & Gas LLC, an affiliate of Cibolo Energy Partners LLC, is set to significantly boost Riley Exploration's production capabilities. With a then-current production of 4,200 bbl/d (7,200 boe/d), the newly acquired assets are sure to help the company to achieve even greater success in the future.

And the best part?

Riley Exploration was able to secure this highly coveted acquisition for the bargain price of $330 million before customary purchase price adjustments. It's a smart move that's sure to pay off big time for the company and its shareholders.

Riley Exploration continues to make waves in the energy industry with its recent acquisition of prime oil and natural gas assets in New Mexico. And to finance this major deal, the company has just issued $200 million in new, senior unsecured notes.

This smart move is sure to pay off big time for Riley Exploration, as it now has the funding it needs to fully take advantage of the newly acquired assets.

Expectations: The Senior Notes will bear interest at an annual rate of 10.5% and will mature in April 2028.

Take a look at Pecos Oil & Gas LLC

Pecos Oil & Gas LLC is a dynamic energy company with a focus on developing premium oil and natural gas resources in the United States. The company has a track record of success in the industry, and it is well-known for its innovative approach to energy production, which emphasizes the use of cutting-edge technology to optimize production and reduce costs.

The company has assets located in some of the most sought-after regions in the United States, including New Mexico and Texas.
Pecos Oil & Gas LLC has acquired and developed more than 40,000 acres of oil and gas resources in New Mexico alone.
The company's assets in New Mexico have a production rate of approximately 12,000 barrels of oil equivalent per day.
Pecos Oil & Gas LLC has established strong partnerships with other leading energy companies, including Cibolo Energy Partners LLC, which is an affiliate of the company.

Before the recent acquisition, Riley Permian's assets included approximately 50,000 net acres in the Permian Basin, spanning across several counties in West Texas and southeastern New Mexico. The company has a significant presence in the Permian Basin, where it has been actively acquiring and developing assets since its inception.

If you are looking for more information about energy companies, their assets, and energy deals, please, contact our sales office mapping@hartenergy.com, Tel. 619-349-4970 or SCHEDULE A DEMO to learn how Rextag can help you leverage energy data for your business.

FREE TRIAL

Multi-Billion Dollar Deal: Ovintiv to Expand Midland Basin Portfolio with EnCap Acquisition and Exit Bakken

Ovintiv Strikes Billion-Dollar Oil Deal, Doubling Production in Permian Basin with EnCap's Black Swan, PetroLegacy, and Piedra Resources. The deal, which was approved unanimously by Ovintiv's board, is slated to close on June 30. With over $5 billion in transactions announced on April 3, Ovintiv is set to expand its oil production by snatching up 65,000 net acres in the core of the Midland Basin. The deal with EnCap will give them a strategic edge in Martin and Andrews counties, Texas, with approximately 1,050 net, 10,000-ft well locations added to their inventory.

Permian Resources bolsters dominance in the Delaware Basin with strategic land acquisitions, expanding its portfolio by over 5,000 net leasehold acres and 3,000 royalty acres. In a stunning display of growth and strategic maneuvering, Permian Resources Corp., based in Midland, Texas, has made waves in the first quarter by securing a series of deals worth over $200 million in the highly sought-after Delaware Basin. This move solidifies their position as a player in the region.

As world leaders gather at the COP29 climate summit, a surprising trend is emerging: some of the biggest oil companies are scaling back their renewable energy efforts. Why? The answer is simple—profits. Fossil fuels deliver higher returns than renewables, reshaping priorities across the energy industry.

The global oil market is full of potential but also fraught with challenges. Demand and production are climbing to impressive levels, yet prices remain surprisingly low. What’s driving these mixed signals, and what role does the U.S. play?

Shell overturned a landmark court order demanding it cut emissions by nearly half. Is this a victory for Big Oil or just a delay in the climate accountability movement?

2024 blog posts