Admiral Permian Resources Increases Its Net Acreage Position in Reeves and Culberson Counties
August 29, 2018
MIDLAND, Texas – APR Operating LLC (D/B/A Admiral Permian Resources) announced the closing of its acquisitions of leasehold interests from an undisclosed seller in July 2018. The acquisition included more than 1,700 net acres in Reeves and Culberson Counties in West Texas and had associated net production during the second quarter of 2018 of approximately 820 Boe/d (34% oil, 62% liquids). The acquired acreage is located on leasehold currently operated by Admiral Permian Resources, thus the acquisition increases the Company’s effective working interest and net revenue interest on various existing properties.
Additionally, the Company also announced the closing of its acquisitions of approximately 160 net mineral acres from undisclosed sellers during the second quarter of 2018. The net mineral acres are located on existing leasehold operated by Admiral Permian Resources in Reeves and Culberson Counties.
About Admiral Permian Resources
Admiral is a privately held exploration and production company focused on the acquisition and development of oil and gas properties in the Permian Basin. Admiral’s strategy is to use leading edge technologies to identify and develop oil rich resource properties. Its experienced management team has a proven track record in the oil and gas industry, predominantly in the Permian Basin, and is focused on maximizing value. Admiral is headquartered in Midland, Texas with offices in Austin, Texas. For more information about Admiral, please visit the company’s web site at www.admiralpermian.com.
Admiral Permian Resources:
Scott Parkison, 432-653-0259
Chief Commercial Officer