The properties contain 126 wells, 100 of which are operated, that are located in Eddy and Chaves counties, New Mexico.
In addition, the acquisition encompasses a natural gas gathering system and related compression facilities gathering gas from the acquired wells and some third party wells.
According to the company, all of the evaluated reserves from this acquisition are considered proved developed producing.
There are also multiple locations included in this acquisition that will be evaluated for future drilling.
Closing of the acquisition is anticipated to occur on or about 5 May 2011, and is subject to customary purchase price adjustments.
