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Primexx Energy Partners

Company Summary

Description

Private E&P Company

Website

https://www.primexx.com/

Operational Regions

  • Delaware Basin

Related Entities

Recent news

  • 10/5/2021 - Callon Petroleum Closes... (subscriber access)
  • 8/4/2021 - Callon Petroleum... (subscriber access)

Company Transactions

Date: 10/15/2021
Type: Acquisition

BUYERS:
  • Callon Petroleum Company
    • SELLERS:
  • Primexx Energy Partners
    • DETAILS:

    COST: 788 $MM

    VOLUMES: 18 MBOE/d

    ACRES: 35000 Acres

    NOTES:
    Callon Petroleum has signed a deal to acquire the oil and gas assets of Primexx Energy Partners in the Delaware Basin for $788 million in cash & stock. The assets include 35,000 net acres in Reeves County, Texas, and 2Q21 production of 18 Mboe/d (61% crude oil.) Callon will issue Primexx 9.19 million shares of stock and $440 million in cash, with closing expected in 4Q21. The cash portion of the deal comes from Callons credit facility, with plans to repay that via free cash flow and other in-process divestments.
    REGIONS:
  • Delaware Basin