Getting your player ready...
Denver – St. Mary Land & Exploration Co. said it has entered into an agreement to acquire oil and gas assets in west Texas from several undisclosed parties for $250 million in cash.
The properties are in the Midland Basin.
The deal is expected to close Dec. 15.
“This transaction will be the largest in our history,” said Mark Hellerstein, chief executive of Denver-based St. Mary.
The deal includes 70 producing wells, 60 proven undeveloped drilling locations and 40 probable and possible drilling locations over 80 acres. Also included is a 40-acre site that could lead to an additional 168 drilling locations.
