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Texas producer to expand Delaware Basin position with Resource Rock deal

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Texas producer to expand Delaware Basin position with Resource Rock deal

The oil and gas producer startup Chisholm Energy Holdings LLC agreed to acquire undeveloped acreage in the New Mexico Delaware Basin from Resource Rock Exploration LLC for an undisclosed sum.

The Eddy County-based assets, which include horizontal reservoir targets in the Bone Spring and Wolfcamp formations, will expand Chisholm's holding in the basin to more than 30,000 net acres, according to a Dec. 7 news release.

The deal is scheduled to close in January 2018.

Chisholm, founded in 2016 and supported by a $500 million commitment from the private equity firm Warburg Pincus LLC, is operating three drilling rigs with a production of about 4,000 barrels of oil equivalent per day. Resource Rock is backed by Kayne Anderson Capital Advisors LP funds.