Memorial Production Partners (NASDAQ:MEMP), a relatively young upstream MLP, just announced an acquisition that transforms the company from an operator largely in mature, dry gas basins to a diversified producer of oil, natural gas and natural gas liquids. In concert with its parent company Memorial Resource Development, Memorial Production Partners made a $935 million acquisition of a set of mature oilfields in southern Wyoming. The two key fields in this acquisition began production in the early 1900s. Today, they are still operative thanks to successful CO2-flooding efforts, which Memorial will look to continue for many years to come.
Here are some facts about the acquisition: Current production sits at 5,900 barrels equivalent per day, 75% of which is...
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