Permian-focused Centennial Resource Development has signed a deal to buy out private equity-backed Silverback Exploration’s interests in the Delaware sub-basin of the Permian for $855 million cash.
The asset package includes 35,000 net acres in Reeves County, Texas, and current production of 3500 barrels of oil equivalent per day from the Wolfcamp A and B zones.
The company sees additional upside potential in the Wolfcamp C, Avalon and Bone Spring formations.
However,
