RSP Permian Inc. (NYSE: RSPP) has closed its previously announced acquisitions in Glasscock County for an aggregate purchase price of $257 million in cash, subject to certain post-closing adjustments. As previously disclosed, the acquisitions include 6,652 net surface acres, or 19,367 net effective horizontal acres, in Glasscock County with 156 net horizontal drilling locations and 316 net vertical locations on 20-acre spacing. The acquired properties include over 125 million boe of resource potential based on internal estimates and are 100% operated by RSP.
In conjunction with the closing of the acquisitions, RSP has closed an amendment to its revolving credit facility that provides for, among other things: (i) increasing the borrowing base to $500 million from $375 million; (ii) increasing the lenders' maximum facility commitments to $1.0 billion from $500 million; (iii) extending the maturity date two additional years to August 2019; and (iv) allowing RSP the ability to issue senior notes.
The company is based in Dallas.
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