A JV between EnerVest and FourPoint Energy has entered into an agreement with QEP Resources to acquire producing properties in the western Anadarko Basin for $275 million. The deal includes acreage and producing wells in the Granite Wash Formation located in the Texas and Oklahoma counties.
· Net production of 31.9 MMcfe/d (43% liquids) from 642 wells
· 47,000 net acres adjacent to current EnerVest/FourPoint production
· PDP reserves comprising 52% of proved reserves and 75% of proved value
· 100% WI Salt Water Disposal system
EnerVest CEO John B. Walker commented: "Once we have closed this acquisition we will have spent more than $1 billion acquiring properties in the mid-continent region within the last year."
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