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VTX Energy Partners, backed by Swiss energy trader Vitol, is expanding its southern Delaware Basin footprint to 47,000 net acres through a bolt-on acquisition, CEO Shepherd says.
After closing an acquisition in Pecos and Reeves counties, Texas, with a value of at least $1.5 billion, Vitol-backed VTX Energy Partners aims to grow larger.
VTX Energy, backed by Swiss oil trader Vitol, purchased 35,000 net leasehold acres with an average production of 40,000 boe/d in the Delaware Basin’s Pecos and Reeves counties, Texas, in a deal Enverus said could be valued at $1.5 billion to $2 billion.
The flight of capital from the E&P space is among the limiting factors keeping the U.S. from responding to the growing global demand for crude and natural gas, VTX Energy CEO Gene Shepherd told DUG Permian and Eagle Ford attendees.
Vitol and the management of ATX Energy Partners, LLC are pleased to announce the formation of VTX Energy Partners, LLC (“VTX” or the...