A pumpjack is shown outside Midland-Odessa area in the Permian basin in Texas, U.S., July 17, 2018.
REUTERS/Liz Hampton/File Photo Acquire Licensing RightsSept 13 (Reuters) - Vital Energy has signed agreements valued at about $1.17 billion to expand its acreage in the Permian Basin, where dealmaking is gathering pace as drillers tap the largest U.S. oil patch to quickly replenish their depleting reserves.
The deal will increase the company's current production by about 35,000 barrels of oil equivalent per day (boepd), Vital said on Wednesday.
Vital in May also acquired Permian assets of Forge Energy II Delaware, an EnCap portfolio company, in a $540 million all-cash deal.
The deals announced on Wednesday, with the affiliates of Henry Energy and Henry Resources, Tall City Property Holdings III and Maple Energy Holdings, are expected to close in the fourth quarter, Vital said.
Persons:
Liz Hampton, Vital, Henry Energy, Seher, Sriraj Kalluvila
Organizations:
REUTERS, Vital Energy, drillers, Vital, Forge, Henry, Henry Resources, City Property Holdings, Maple Energy Holdings, Thomson
Locations:
Midland, Odessa, Texas, U.S, New Mexico, Forge Energy II Delaware, Bengaluru