Rosehill Resources Inc. Surpasses 11,000 Net Acres With the Completion of Additional Delaware Basin Acreage Acquisition
HOUSTON, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Rosehill Resources Inc. (“Rosehill” or the “Company”) (NASDAQ:ROSE) and (NASDAQ:ROSEW) today announced that it has completed the acquisition of an additional 1,940 net acres, certain mineral and royalty interests, and two producing wells, in the Southern Delaware Basin in Pecos County, Texas for $39.0 million. Approximately $33.0 million of the purchase price was allocated to the 1,940 net acres, purchased under the same terms as the Company’s recent, related acquisition of 4,565 net acres in Pecos County. The Company’s total net acreage has now increased to 11,150 net acres (over 400 gross Wolfcamp A, Wolfcamp B and Bone Spring locations) with the potential for additional acreage acquisitions from the same seller, under the terms of the agreement.
About Rosehill Resources Inc.
Rosehill Resources Inc. is an oil and gas exploration company with producing assets in Texas and New Mexico with its investment activity focused on the Delaware Basin portion of the Permian Basin. The Company’s strategy for growth includes the organic development of its two core acreage areas in Loving and Lea counties, and Pecos and Reeves counties, as well as focused acquisitions in the Delaware Basin.
This communication includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. All statements, other than statements of historical fact included in this communication, regarding our opportunities in the Delaware Basin, our strategy, future operations, financial position, estimated results of operations, future earnings, future capital spending plans, prospects, plans and objectives of management are forward-looking statements. When used in this communication, the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “guidance,” “forecast” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words.
You should not place undue reliance on these forward-looking statements. Although the Company believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements in this communication are reasonable, no assurance can be given that these plans, intentions or expectations will be achieved or occur, and actual results could differ materially and adversely from those anticipated or implied by the forward-looking statements. Some factors that could cause actual results to differ include, but are not limited to, its ability to acquire additional acreage from the sellers pursuant to the acquisition purchase agreement, the ultimate timing, outcome and results of integrating the acquired assets into its business and its ability to realize the anticipated benefits, commodity price volatility, inflation, lack of availability of drilling and completion equipment and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating oil and natural gas reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures and the other risks and uncertainties discussed under Risk Factors in the Company’s Registration Statement on Form S-3, as amended, filed with the Securities and Exchange Commission (the “SEC”) on June 14, 2017, and in other public filings with the SEC by the Company. The Company’s SEC filings are available publicly on the SEC’s website at www.sec.gov. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. All forward-looking statements speak only as of the date of this communication. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this communication.
President and Chief Executive Officer
Chief Financial Officer
Released December 21, 2017