• Concho Resources Inc., Midland, Texas, (NYSE: CXO) plans to acquire acreage in the Delaware Basin in West Texas and New Mexico and from multiple undisclosed parties for a total $330 million. The various acquisitions were to be made during the third and fourth quarters.

The deals include approximately 137,000 gross (114,000 net) acres in both the northern and southern portions of Concho’s Delaware Basin Bone Spring play. The acquisitions consist primarily of leasehold in an area with Avalon shale, Bone Spring sands and Wolfcamp shale formations. Production is approximately 1,500 barrels of oil equivalent (BOE) per day. Proved re- serves are an estimated 6 million bbl. equivalent.

Pro forma, Concho’s acreage position in the Delaware Basin will expand from some 280,000 gross (160,000 net) acres as of June 30 to approximately 420,000 gross (270,000 net) acres. The deal also increases Concho’s average working interest in the Delaware Basin from 56% to 64%. It adds more than 350 identified horizontal drilling locations with the potential to identify an additional 500 locations assuming 160-acre spacing

• Crimson Exploration Inc., Houston, (Nasdaq: CXPO) has acquired leasehold acres in Texas from an undisclosed seller for an undisclosed price.

The assets include 4,700 gross (4,600 net) leasehold acres in Madison County contiguous to Crimson’s existing Madisonville Field. Crimson has substantially increased its leasehold position in Madison and Grimes counties during 2011 and now has approximately 19,000 gross (15,500 net) acres that it believes are prospective for a number of liquids-rich formations.

By year-end, Crimson will move a rig onto its initial well location, and anticipates drilling to a total measured depth of 16,900 feet, including a 7,700-foot lateral. Crimson expects to keep the rig active throughout 2012 in order to assess its acreage position.

• Legacy Reserves LP, Midland, Texas, (Nasdaq: LGCY) has agreed to purchase oil and natural gas properties in the Permian Basin and Wyoming from undisclosed private sellers for a combined purchase price of $72.5 million.

The first acquisition involves an agreement to purchase Permian Basin properties from a private seller for $20 million in cash and 278,396 Legacy units for a total $27.5 million. The properties are in Lea, Eddy and Chaves counties, New Mexico. Net daily production is approximately 1.26 million cu. ft. of gas and 110 bbl. of oil, and is 100% operated. Proved reserves are approximately 1.64 million bbl. equivalent (88% proved developed producing).

Closing of this acquisition was expected by mid-November.

The second deal involves buying natural gas properties in Wyoming for $45 million in cash. The properties, in Freemont County, have net production of some 12.9 million cu. ft. per day and 15 bbl. of oil per day, and are 100% operated. Legacy estimates that the properties contain proved reserves of 41.6 billion cu. ft. equivalent (100% proved developed producing).

The acquisition includes a gathering system, processing plant, and related compression facilities gathering gas from the wells to be acquired. Closing was expected by Dec. 1.

• Crestwood Midstream Partners LP, Houston, (NYSE: CMLP) completed its previously announced acquisition of Tristate Sabine LLC from affiliates of Energy Spectrum Capital, Zwolle Pipeline LLC and the Tristate management. Crestwood paid $65 million at closing funded with available capacity under Crestwood’s revolving credit facility. An additional $8-million deferred purchase payment will be paid on November 1, 2012, subject to customary post-closing adjustments.

The acquired assets include approximately 61 miles of high-pressure gas-gathering pipelines and carbon-dioxide-treating facilities in Sabine Parish, Louisiana (the Sabine System). The system provides gathering and treating services for Haynesville and Middle Bossier shale production from Toledo Bend South Field for redelivery to Gulf South Pipeline and Tennessee Gas Pipeline. Crestwood is also acquiring gathering and treating contracts on the Sabine System that dedicate approximately 20,000 acres under long-term, fixed-fee arrangements. System capacity is currently being expanded to 100 million cu. ft. per day for gathering and 80 MMcf/d for treating. Following the expansion, gathering volumes are expected to be some 60 to 70 MMcf/d.

• Energy Partners Ltd., Houston, (NYSE: EPL) has agreed to acquire oil and gas assets in the shallow-water central Gulf of Mexico from a subsidiary of Stone Energy Corp., Lafayette, La., for $80 million. The transaction involves additional interests in the Main Pass (MP) 296/311 complex that was included in the assets EPL purchased from Anglo-Suisse Offshore Partners LLC in February 2011, along with other unit interests in the MP complex and an interest in a MP 295 primary term lease. The assets are currently producing some 900 net BOE per day, about 96% of which is oil. EPL estimates the proved reserves as of the November 1, 2011, effective date total approximately 2.6 million BOE, consisting of 96% oil and 100% proved developed producing. The company estimates the asset retirement obligation to be assumed in the acquisition at $4 million.

• Eagle Ford Oil & Gas Corp., Houston, (OTCBB: ECCE) has signed an agreement to purchase a 60.5% working interest in a Texas oil field currently producing from 75 wells. It plans to drill up to 20 additional wells beginning in 2012. The purchase price is $21 million plus 3 million warrants with a strike price of 50 cents. “This acquisition will immediately increase Eagle Ford’s daily net production by 350 bbl. and creates a path for additional acquisitions and drilling for 2012,” says Paul Williams, chief executive of Eagle Ford.

• Panhandle Oil & Gas Inc., Oklahoma City, Okla., (NYSE: PHX) closed on its acquisition of certain Fayetteville assets for $17.5 million. The assets were acquired from a private seller and include interests in 193 producing non-operated natural gas wells and 1,531 acres of leasehold in Van Buren, Conway and Cleburne counties, Arkansas, in the core of the Fayetteville shale. There are some 240 future infill drilling locations identified on the leasehold.

• Houston-based Robinson’s Bend Production II LLC has acquired net profits interests attributable to underlying working interests in the Robinson’s Bend formations in the Black Warrior Basin in Alabama from Torch Energy Royalty Trust, Houston, (NYSE: TRU) for an undisclosed price.

The trust also plans to sell net profits interests attributable to underlying working interests in certain fields that produce from the Cotton Valley and Austin Chalk formations in Texas and Chalkley Field in Louisiana to an undisclosed buyer.

Additional news

• Tortoise Capital Advisors LLC (NYSE: TTP) has closed an initial public offering for Tortoise Pipeline & Energy Fund Inc., which will trade on the New York Stock Exchange as TTP. Morgan Stanley, Citigroup and UBS Investment Bank were lead underwriters. Ameriprise Financial Services Inc., Barclays Capital, Oppenheimer & Co., RBC Capital Markets and Stifel Nicolaus Weisel were senior comanagers.

The fund raised $250 million in gross proceeds, and should the underwriters exercise their overallotment option in full, would raise $285 million.

Tortoise Pipeline intends to focus on North American pipeline companies that transport natural gas, gas liquids, crude oil and refined products, and to a lesser extent, on other energy infrastructure companies. As a flow-through regulated investment company, the fund may purchase securities of traditional pipeline corporations along with master limited partnerships.

• Recovery Energy Inc., Denver, (OTCBB: RECVD) has been approved by the Nasdaq OMX Group for listing on the exchange.

The company’s shares began trading on Nasdaq under the ticker RECV on Nov. 2, 2011.

For company news—both real-time and archives—see OilandGasInvestor.com