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Athlon Energy Increases Midland Basin Acreage With $88 Million Acquisition

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By Emily Moser, Hart Energy
January 24, 2014

Athlon Energy Inc. (NYSE: ATHL) entered into an agreement with undisclosed sellers to buy assets scattered in counties in the northern Midland Basin for $88 million cash, the company said Jan. 24.

The company also beat production expectations despite extreme temperatures in the Permian Basin.

The new properties total 5,656 net acres concentrated near Athlon's existing operating areas in Midland, Upton, Martin, and Andrews counties. Current production is 750 barrels of oil equivalent per day (BOE/d) with 60% oil.

New acquisitions include 250 vertical locations and 70 gross Wolfcamp A, ...

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