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Langford Energy Partners Enters Midland Basin with Acquisition from Murchison Oil & Gas

1. Langford Energy Partners acquires Midland Basin assets from Murchison Oil and Gas. 2. Acquisition includes 8,000 net acres with production of 7,200 boe/d, 72% oil. 3. LEP aims for expansion and increased value from this strategic acquisition.

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Why Bullish?

The acquisition indicates growth potential which may positively influence AESI's stock performance.

How important is it?

Strategic acquisitions tend to enhance market position, which can influence investor sentiment and stock value.

Why Long Term?

This strategic asset acquisition positions LEP for ongoing development, impacting ASIC positively over time.

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AESI
AUSTIN, Texas, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Affiliates of Langford Energy Partners (“LEP”), a privately held oil & gas operating company, announced today that they have closed on the acquisition of Midland Basin assets from Murchison Oil and Gas, LLC. Management Comments Lance Langford, LEP’s CEO, stated, “LEP’s acquisition represents a great opportunity for our team to add to its long history of operating success and delivering value to investors. We will leverage this asset as an anchor for expansion through additional bolt-on acquisitions in the Midland Basin.” Bud Brigham, the company’s Executive Chairman added, “I’m thrilled that LEP has captured what we believe is a high-quality asset with the ideal profile to complement our stated strategy. On a personal note, it’s exciting to re-enter the area of the Midland Basin where I began my career and drilled my first wells.” Acquisition Highlights Approximately 8,000 net acres primarily in Howard, Borden, and Midland Counties, TXNet production of approximately 7,200 boe/d (72% oil), primarily from 63 operated horizontal wellsSubstantial runway of quality, fully delineated drilling locationsEstablished oil, gas, and water infrastructure, including two owned saltwater disposal wells, to support future production and developmentAcquisition closed on December 6, 2024 Financing LEP funded the acquisition with equity from its flagship fund, Langford Energy Partners I, LP, and senior bank debt from a new credit facility led by Texas Capital Bank. Advisors Vartabedian Hester & Haynes LLP, Vinson & Elkins LLP, and Kirkland & Ellis LLP served as legal counsel to LEP. RBC Richardson Barr served as exclusive financial advisor and Holland & Knight LLP served as legal counsel to Murchison. About Langford Energy Partners Langford Energy Partners manages a direct-to-LP fund focused on operated oil & gas investments and is led by General Partners Lance Langford and Bud Brigham. Lance Langford and Bud Brigham have demonstrated industry-leading operating and commercial capabilities over more than three decades, having collectively built and managed 11 energy companies responsible for drilling over 1,500 wells across the United States. For more information, please visit langfordep.com or contact investors@langfordep.com. About The Brigham Platform The Brigham Platform is an independent platform of oil and gas companies based in Austin, Texas and led by Bud Brigham. With over 30 years of industry experience, Bud Brigham has founded and successfully built multiple energy enterprises, including three which have successfully IPO'd and three which have had successful exits totaling over $9 billion. The Brigham Platform currently consists of four enterprises, each with a dedicated management team and a unique strategy, collectively aiming to capitalize on the long-term prospects for traditional energy sources while prioritizing innovation, capital discipline, and operational efficiency. Among its enterprises are Atlas Energy Solutions (NYSE:AESI), Brigham Exploration (non-operated oil & gas), Brigham Royalties (minerals & royalties), and LEP (operated oil & gas). SOURCE Langford Energy Partners

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