Blue Whale purchases Permian Basin assets for $1.084 billion

Blue Whale Energy North America has closed a transaction with Tall City Exploration LLC and Plymouth Petroleum LLC, both private companies, on behalf of Moss Creek Resources LLC for assets located in Howard and Borden counties, Texas, valued at $1.084 billion.

With an effective date of April 1, the assets purchased consist of 6,000 boe/d of net production and more than 78,000 net acres. The acquired properties will be operated by Surge Energy Operating, an operating company based in Houston, Texas.

In addition to the Moss Creek deal, Blue Whale closed a transaction in April with Juno Energy II, a private company, for $315 million on behalf of Surge Energy America LLC. These assets consist of 2,500 boe/d and more than 7,100 net acres in Crosby County, Texas, on the northern edge of the Permian Basin. The Surge Energy transaction combined with the Moss Creek transaction brings Blue Whale’s total acquisitions for 2015 to $1.4 billion and 85,000 net acres in the Permian Basin.

Blue Whale Energy North America, led by Curtis Newstrom as president and CEO, is a US subsidiary of Blue Whale Energy Ltd., an energy investment company based in Beijing, China, and is engaged in the acquisition of upstream oil and gas properties in the US and Canada.


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