EOG Resources has signed an agreement to sell for an undisclosed sum its remaining position in the Midland sub-basin of the Permian in the US to private equity-backed Sequitur Energy Resources.
Upstream understands that the package includes about 31,000 net acres primarily in Irion, Crockett and Reagan counties in Texas, on the southern end of the Midland basin.
The deal is EOG’s second sale in the Midland basin this year, and marks the US tight oil specialist’s exit from the popular play.
Upstream
