Vitol’s VTX has agreed to divest 46,000 surface acres in the Southern Delaware Basin to LandBridge

Vitol’s VTX has agreed to divest 46,000 surface acres in the Southern Delaware Basin to LandBridge

Vitol’s US upstream company, VTX Energy Partners, LLC (“VTX”), has entered into a purchase and sale agreement to divest approximately 46,000 surface acres in the Southern Delaware Basin to LandBridge Company LLC (NYSE: LB) for a consideration of $245 million in cash.

VTX remains active in oil and gas operations in the Southern Delaware Basin with over 40,000boepd of production in 2024.

Piper Sandler & Co. is serving as financial advisor and Gibson, Dunn & Crutcher LLP is serving as legal advisor to Vitol and VTX Energy Partners.