Hilcorp affiliate closes San Juan Basin assets acquisition from ConocoPhillips

Hilcorp San Juan LP, a partnership between Hilcorp Energy Co. and The Carlyle Group, has closed its acquisition of the San Juan Basin assets from ConocoPhillips. The 1.3 million net acres purchase instantly places Hilcorp Energy amongst the top producers in the San Juan Basin.

“With the acquisition now complete, Hilcorp can start doing the technical work required to increase production in New Mexico and Colorado, just as we’ve done in other areas of the country,” said Jason Rebrook, president and chief development officer. “Throughout this entire process, we’ve identified significant potential remaining in the base assets as well as in the Mancos Shale.”

The assets purchased by Hilcorp currently produce ~120,000 boe/d with a decline rate of 7% annually.

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