WildHorse Resource Development Corp. (NYSE: WRD), one of the largest players in the Northeast Eagle Ford Shale, revealed a series of bolt-on acquisitions, which analysts said increased the company’s footprint at an “attractive” price.
On Sept. 20, WildHorse said it had recently executed and closed two agreements to acquire a combined 20,305 net acres in the Eagle Ford, Austin Chalk and other intervals. The acquisitions included about 39 barrels of oil equivalent per day of net production across Burleson, Brazos, Lee and Washington countiesin Texas. The terms and sellers were undisclosed.
The company also added it has leased 10,700 net acres in the Eagle Ford and Austin Chalk year-to-date, net of lease expirations.
As a result of these transactions, WildHorse said it has acquired about 31,005 net acres in 2018 for $43 million. Of the total consideration, about $7.6 million has been recognized on the company’s first- and second-quarter 2018 financial statements.