Vitol’s VTX to add to southern Delaware Basin platform

Vitol’s US upstream company, VTX Energy Partners, LLC (“VTX”), today announced an agreement to acquire 12,000 net leasehold acres contiguous with the Delaware Basin Resources position acquired in March, bringing its total southern Delaware Basin position to 47,000 net acres.

VTX announced it has agreed to acquire assets comprising leasehold, production and associated water infrastructure for an undisclosed sum. It is VTX’s second acquisition since the partnership was established by Vitol and VTX last year. The assets include 12,000 net leasehold acres with current daily production of approximately 4 Mboepd.

Gene Shepherd, VTX CEO, said: “This opportunity to acquire high quality inventory and water infrastructure, contiguous to our recently closed acquisition of Delaware Basin Resources, advances VTX’s goal of building a highly profitable US Lower 48 upstream business with scale. With Vitol’s unique market insights, expertise and funding capabilities, we see additional opportunity to grow our business, with our current focus in the southern Delaware Basin.”

Ben Marshall, Vitol Head of Americas, added: “We have always thought about VTX as a growth platform and are thrilled to see the team secure a strategic opportunity of size so soon after their initial acquisition. Our appetite for investment in the upstream sector is substantial and we remain excited about the growth prospects for VTX.”

About VTX Energy Partners, LLC

VTX Energy Partners is the successor company to ATX Energy Partners, an Austin-based oil and gas company pursuing an acquisition and development strategy in the U.S. Lower 48.  The management team has a proven track record of prudent asset management and value creation dating back to Brigham Exploration, which sold to Statoil for $4.7 billion in October 2011, and Brigham Resources, which sold to Diamondback Energy for $2.6 billion in December 2016.  Please direct all business development inquiries to BD@vtxep.com.