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.
The assets acquired will enhance LRG's rapidly expanding footprint in the Texas Panhandle. This acquisition includes production and development opportunities spanning approximately 11,000 acres, all off-setting LRG existing properties. This is LRG's 8th acquisition in the past 3 years, making LRG among the largest independent operators in the Texas Panhandle.
Seaport Global Securities acted as an advisor to LRG on the deal.
