RSP Permian, Inc. Announces Closing of Midland Basin Acquisition
DALLAS, Nov. 18, 2015 /PRNewswire/ -- RSP Permian, Inc. ("RSP" or the "Company") (NYSE: RSPP) today reported that it has closed its previously announced acquisition of undeveloped acreage and oil and gas producing properties in the Midland Basin for a purchase price of approximately $137 million, subject to customary post-closing adjustments. Since August 2015, RSP has acquired approximately 10,700 net acres in the Midland Basin, mostly offsetting or in close proximity to existing operations, and has increased the Company's horizontal inventory in its core focus area by over 25%.
About RSP Permian, Inc.
RSP is an independent oil and natural gas company focused on the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. The vast majority of our acreage is located on large, contiguous acreage blocks in the core of the Midland Basin, a sub-basin of the Permian Basin, primarily in the adjacent counties of Midland, Martin, Andrews, Glasscock, Dawson and Ector. The Company's common stock is traded on the NYSE under the ticker symbol "RSPP." For more information, visit www.rsppermian.com.
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SOURCE RSP Permian, Inc.
Source: PR Newswire
(November 18, 2015 - 9:15 AM EST)
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