A version of this story appears in the October 2017 edition of Oil and Gas Investor. Subscribe to the magazine here.
Rosehill Resources Inc. CEO Alan Townsend said one of his lifelong ambitions is to lead a public E&P, and, after 40 years in the business, his wish has now come true. In April, privately held Tema Oil & Gas Inc., the West Texas and Barnett Shale operator he’s led since 2001, merged with KLR Energy Acquisition Co., a publicly held blank-check company. The reverse capitalization valued Tema at $445 million. The public face took the Rosehill moniker.
Rosehill’s near future is rooted in 4,800 Delaware Basin net acres the company cored up around legacy leases with 250 drilling locations before downspacing.