- RSP Permian (NYSE:RSPP) -2.9% premarket after agreeing to acquire acreage and oil and natural gas producing properties in Texas' Midland Basin for ~$137M.
- The properties include 86 net horizontal drilling locations and 25 producing wells with average net production of ~1,900 boe/day in August.
- To help fund the deal, RSPP launches a public offering of 6M common shares, with an underwriters option to purchase up to an additional 900K shares.
- Also, RSPP expects Q3 production to average 23.5K-24K boe/day (~75% oil), a 110%-114% Y/Y increase and an 18%-21% Q/Q growth rate.