Vitol’s Vencer Energy to acquire certain assets of Hunt Oil Company
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Vitol’s US upstream company Vencer Energy has signed an agreement to acquire Hunt Oil Company’s assets in Midland Basin.
The assets considered for acquisition include 44,000 acres across five counties in the Midland Basin.
These assets have a current daily production of approximately 40 million barrels of oil equivalent per day (boepd).
The deal marks Vencer’s first acquisition since its launch in 2020 by Vitol. Vencer aims to acquire mature, producing oil and gas assets, with a specific focus on key basins in the US Lower 48.
Vitol s Vencer Energy Makes First Investment To Acquire Midland Basin Assets
Vitol’s US upstream company, Vencer Energy LLC (“Vencer”), has today announced it has agreed to acquire Hunt Oil Company’s Midland Basin assets for an undisclosed sum. It is Vencer’s first acquisition since it was established by Vitol last year.
The assets comprise 44,000 acres across five counties in the Midland Basin, with current daily production of approximately 40 mboepd.
Don Dotson, President and CEO, Vencer said: “We are delighted with this acquisition which realizes our vision for Vencer as the owner of quality, mature, producing assets with attractive development opportunities. We look forward to working with our new colleagues.”
Operator
Good day everyone and welcome to the Itron, Inc. Q1 2021 Earnings Conference Call. Today s call is being recorded. For opening remarks, I would like to turn the call over to Ken Gianella. Please go ahead.
Kenneth P. Gianella
Vice President, Investor Relations and Strategy
Thank you, operator. Good morning and welcome to Itron s first quarter 2021 earnings conference call. We issued a press release earlier today announcing our results. The press release includes replay information about today s call. A presentation to accompany our remarks on this call is also available through the webcast and on our corporate website under the Investor Relations tab. On the call today, we have Tom Deitrich, Itron s President and Chief Executive Officer and Joan Hooper, Senior Vice President and Chief Financial Officer.