Vencer Energy LLC, the US upstream arm of oil trader Vitol, agreed to acquire Hunt Oil Co.’s Midland basin assets, the company said Apr. 30 (OGJ Online, July 22, 2020). Financial terms were not disclosed.
The assets comprise 44,000 acres across five counties in the Midland basin with current production of 40,000 boe/d.
The acquisition is the first for Houston-based Vencer, which was established in 2020, and establishes the company “as a significant shale producer in the US Lower 48,” and “represents an initial step to building a larger, durable platform in the US Lower 48,” said Ben Marshall, Head of Americas, Vitol, in a prepared statement.
