Split Rock Resources, LLC Announces Permian Basin Expansion

FORT WORTH, Texas, Jan. 18, 2022 /PRNewswire/ -- Split Rock Resources, LLC ("Split Rock"), an affiliate of North Hudson Resource Partners LP, announced that it has acquired non-operated Permian Basin oil and gas assets from a private seller for a cash purchase price of $97.5 million. The acquisition primarily consists of core non-operated assets (the "Assets") located in the Delaware Basin in Eddy and Lea counties, New Mexico as well as in the Midland Basin in Glasscock County, Texas.

The Assets are currently producing approximately 2,000 Boe per day (75% liquids, 3-stream basis) and include approximately 1,000 net acres with substantial drilling inventory targeting the Wolfcamp, Bone Spring and additional formations. The Assets are operated by a diverse group of top-tier companies and 2022 development activities are expected to increase daily production rates to over 4,000 Boe per day.

About Split Rock

Split Rock is an independent oil and gas company based in Fort Worth, Texas, engaged in the acquisition and development of non-operated oil and gas assets primarily in the Permian Basin, DJ Basin, and Haynesville Shale. For more information, please visit www.splitrockres.com.

About North Hudson

North Hudson Resource Partners LP is a Houston-based private equity firm focused on middle market upstream and midstream energy investments in North America. For more information on North Hudson, please visit www.northhudsonrp.com.

Media Contact: Jake Bailey, [email protected]

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SOURCE Split Rock Resources