“Roxo Energy Announces Sale Of Its Howard And Borden County Leasehold Position To Murchison Oil And Gas”
Roxo Energy (“Roxo”), a privately held independent E&P company, of Fort Worth, Texas, today announced that on October 26 [th] , 2018, it closed on the sale of its interest in oil and gas leases and wells in Howard and Borden Counties, Texas, to Murchison Oil and Gas (“Murchison”). Murchison’s purchase was financed by an investment group led by Angelo Gordon, and included MSD Partners, L.P. and Ares Capital Corporation. Roxo’s leasehold is located in the premier development corridor of the Northern Midland basin, targeting the prolific Wolfcamp and Spraberry play. The properties consist of approximately 5,300 contiguous leasehold acres, surrounded by significant development activity by quality offset operators. This sale comes just 20 months after Roxo’s entry into the play. Roxo will retain its mineral interests in the Permian Basin and continue pursuing its strategy of acquiring and developing attractive oil & gas assets within the United States.
…Thompson & Knight led by partner Robert Dougherty and associate John Phair acted as legal advisor for Murchison Oil and Gas.