Split Rock Resources Acquires Non-Operated Permian Basin Oil/Gas Assets

Split Rock Resources LLC, an affiliate of North Hudson Resource Partners LP, recently acquired non-operated Permian Basin oil and gas assets from a private seller for a cash purchase price of $97.5 million. The acquisition primarily consists of core non-operated assets located in the Delaware Basin in Eddy and Lea counties, NM as well as in the Midland Basin in Glasscock County, TX.

The assets are currently producing approximately 2,000 barrel of oil equivalent (Boe) per day (75 percent liquids, three-stream basis) and include approximately 1,000 net acres with substantial drilling inventory targeting the Wolfcamp, Bone Spring and additional formations. The assets are operated by a diverse group of top-tier companies and 2022 development activities are expected to increase daily production rates to more than 4,000 Boe per day.