Rosetta Buys Permian Assets From Comstock
March 15, 2013
Rosetta Resources Inc. (Nasdaq: ROSE) plans to buy Permian Basin assets from Comstock Resources Inc. (NYSE: CRK) for US $768 million.
The acquisition covers 53,306 net acres (87,373 gross) located in Reeves and Gaines counties in West Texas. The Reeves County assets located in the Delaware Basin include 40,182 net acres and 74 producing (52 operated) primarily Wolfbone wells.
Total current net production is 3,300 barrels of oil equivalent per day of which more than 73% is oil. Rosetta projects significant growth potential for the area based on an estimated ...
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