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Reliance Energy

Company Summary

Description

Reliance is a private Midland based oil and gas company focused on developing upstream and midstream assets. The Company has over 100,000 net acres in the Permian Basin, including approximately 40,000 net acres in the prolific Northern Midland Basin.

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Company Transactions

Date: 10/4/2016
Type: Acquisition

BUYERS:
  • Concho Resources, Inc.
    • SELLERS:
  • Reliance Energy
    • DETAILS:

    COST: 1.625 $B

    VOLUMES: 10 MBOE/d

    ACRES: 40000 Acres

    NOTES:
    The acquisition includes 10 Mboe/d of current production from 326 vertical wells and 44 horizontal wells and approx. 530 new drilling locations in the play.
    REGIONS:
  • Permian Basin
  • Lower Spraberry
  • Spraberry Trend
  • Wolfcamp