WildHorse Resource Development said it acquired approximately 111,000 net acres and associated production from Anadarko Petroleum Corporation and Kohlberg Kravis Roberts & Co. L.P. for $625 million, subject to closing conditions.
“With a total of 385,000 net acres, we have built a premier contiguous acreage base making us the second largest operator in the entire Eagle Ford trend,” chief executive Jay Graham said in a statement.
The deal, securing 949 net Eagle Ford locations, is expected to close around the end of June, taking effect on January 1, 2017.
The acreage is in Burleson, Brazos, Lee, Milam, Robertson, and Washington Counties, located next to the company’s existing acreage position. The acquired properties had net production of 7,583 barrels of oil equivalent per day in the fourth quarter of 2016, WildHorse said.