LRG Energy Acquires Assets From XTO Energy inc., a Subsidiary of Exxon Mobil Corporation
BORGER, Texas, Dec. 02, 2021 (GLOBE NEWSWIRE) -- LRG Energy LLC (LRG), a private, independent oil and gas company based in Borger, Texas, announced the acquisition of Lefors Field assets from XTO Energy Inc., a subsidiary of Exxon Mobil Corporation, which include 225 operated, producing wells and integrated saltwater disposal wells in Gray County, Texas.
- BORGER, Texas, Dec. 02, 2021 (GLOBE NEWSWIRE) -- LRG Energy LLC (LRG), a private, independent oil and gas company based in Borger, Texas, announced the acquisition of Lefors Field assets from XTO Energy Inc., a subsidiary of Exxon Mobil Corporation, which include 225 operated, producing wells and integrated saltwater disposal wells in Gray County, Texas.
- LRG owns and operates approximately 3,500 wells primarily in the Texas Panhandle, through its 3 operators: Large Operating, Ponderosa TX Operating and D10 Energy.
- LRG's strategy is to acquire existing wellbores, return to production (RTP) nonproducing wells, while flat-lining decline curves and cutting costs.
- LRG believes its strategy is ESG effective by repairing older wells and thereby reducing each well's carbon footprint.