/PRNewswire/ Surge Energy US Holdings Company ("Surge Energy" or the "Company") announces the use of dual fuel completions on a multi-well, multi-zone pad.
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On Sunday, China’s Shandong Xinchao announced its decision to shell out $420 million to purchase oil-producing acreage from Grenadier Energy in the Texas Permian Basin.
Or rather, Surge Energy of Houston made the announcement via PR Newswire.
HOUSTON, Jan. 31, 2021 /PRNewswire/ Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announced in the US that it, through its subsidiary, has signed a purchase and sale agreement to acquire leasehold interest and producing wells from Grenadier Energy Partners II LLC (“GEP II”) in Howard County, TX (the “Transaction”). The aggregate purchase price of the Transaction is expected to be approximately $420 million USD.
Surge Energy America Announces Significant Midland Basin Acquisition
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HOUSTON, Jan. 31, 2021 /PRNewswire/ Surge Energy US Holdings Company ( Surge Energy or the Company ) announced in the US that it, through its subsidiary, has signed a purchase and sale agreement to acquire leasehold interest and producing wells from Grenadier Energy Partners II LLC ( GEP II ) in Howard County, TX (the Transaction ). The aggregate purchase price of the Transaction is expected to be approximately $420 million USD.
Highlights of the acquired assets include:
Average production of approximately 9,000 Boepd (approximately 75% oil)
Approximately 18,010 net leasehold acres
Operated inventory of approximately 120 high-quality, economic future drilling locations