Spur Energy, KKR buy Permian assets from Percussion
May 14, 2019
Spur Energy Partners LLC, Houston, and investment firm KKR have partnered to acquire oil and gas production and development assets across the Lower 48, beginning with a signed agreement to acquire the Permian Northwest Shelf assets of Percussion Petroleum LLC, Houston.
Spur Energy Partners LLC, Houston, and investment firm KKR have partnered to acquire oil and gas production and development assets across the Lower 48, beginning with a signed agreement to acquire the Permian Northwest Shelf assets of Percussion Petroleum LLC, Houston.
The acquisition includes interests in 380 gross producing wells and 22,000 net acres in the Yeso formation in Eddy and Lea counties in New Mexico as well as associated water and midstream assets. In this year’s first quarter, the assets produced 9,200 net boe/d (85% liquids). Subject to closing conditions, the deal is expected to close in this year’s second quarter.
Spur is led by Chief Executive Officer Jay Graham, co-founder and former chief executive officer of WildHorse Resource Development Corp.
