Memorial Pays $606M For Permian Basin, Rockies Assets

Law360, Houston (July 15, 2013, 4:27 PM EDT) -- Houston-based energy developer Memorial Production Partners LP will acquire oil and gas assets spanning four states for $606 million, boosting its proved reserves by more than 36 percent, the company said Monday.

Memorial has signed definitive agreements to buy properties in Texas, New Mexico, Wyoming and Colorado containing 275 billion cubic feet of oil and gas reserves from its sponsor, Memorial Resource Development LLC and affiliates of Natural Gas Partners, according to a statement released by the company.

Representing the largest buy yet for the 2-year-old...
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