Deals this week: Tall City Exploration III, Matador Resources Company, KBR

25.09.2018

Deals this week: Tall City Exploration III, Matador Resources Company, KBR

 

Tall City Exploration III has received equity financing of approximately $500m from funds associated with Warburg Pincus.

Based in the US, Tall City Exploration III is an oil and gas exploration and development company, while Warburg Pincus, also based in the US, is a private equity firm.

Tall City plans to use the funds raised to strengthen its position in the Permian Basin and carry out acquisition and exploration activities in the region.

Matador Resources Company has purchased 8,400 gross acres in Lea and Eddy Counties in New Mexico, US, for $387m under a New Mexico oil and gas lease sale conducted by the Bureau of Land Management.

Approximately 2,800 gross/net acres of the total acquired acreage lies in the Stateline area, 4,800 acres in the Antelope Ridge asset area, 400 acres in the Arrowhead asset area and another 400 acres lie in the Twin Lakes asset area.

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