99% HBP by 220 producing vertical wells
EnCap-backed PetroLegacy Energy II, LLC closed on the acquisition of roughly 20,000 net acres in northeastern Martin County, Texas, from Pioneer Natural Resources Company (ticker: PXD) for $266 million.

PetroLegacy said the Northern Midland Basin assets are currently producing approximately 1,500 BOEPD and will provide PetroLegacy with horizontal drilling locations across the property prospective for the Lower Spraberry, Wolfcamp A and Wolfcamp B formations.

The company said it believes the asset c...

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