Startup Chisholm Energy Holdings LLC, led by a former Range Resources Corp. (NYSE: RRC) executive, said May 15 that its first purchase targets the Delaware Basin in New Mexico, near areas where large and small companies alike have been buying.
The asset, located in Eddy and Lea counties, N.M., includes a substantial amount of “highly attractive, undeveloped acreage with multiple targets in the Bone Spring and Wolfcamp formations,” according to a May 16 press release.
The asset was acquired from a private seller. Terms of the transactions were not disclosed.
Chisholm, based in Fort Worth, Texas, is headed by CEO Mark Whitley, who said on his LinkedIn page he and four former Range Resources employees founded the company.
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Source: Daily Dose of ShaleDirectories.com News