Austin-based Langford Energy Partners has announced that one of its subsidiaries has acquired Midland Basin assets from Plano-based Murchison Oil and Gas LLC.
According to a news release, the privately held oil and gas operating company finalized the deal on December 6, 2024. The acquisition includes nearly 8,000 net acres primarily located in Howard, Borden, and Midland counties, with the capacity to produce 7,200 barrels of oil per day through 63 operated horizontal wells.
The financial terms of the deal were not disclosed. However, it provides numerous fully delineated drilling locations. Company leaders anticipate that acquiring the oil, gas, and water infrastructure will support future production and development efforts. The acquisition also includes two saltwater disposal wells.
CEO Lance Langford said that the deal will enhance the company’s portfolio and ability to deliver value to stakeholders. "We will leverage this asset as an anchor for expansion through additional bolt-on acquisitions in the Midland Basin," he said. Executive Chairman Bud Brigham expressed his belief that the company has added a high-quality asset. "On a personal note, it’s exciting to re-enter the area of the Midland Basin where I began my career and drilled my first wells," Brigham said.