- PDC Energy (NASDAQ:PDCE +0.9%) agrees to acquire ~4,500 net acres in Texas' Delaware Basin from Fortuna Resources, co-sponsored by affiliates of Och-Ziff Capital, for $118M.
- PDCE says the acquired properties, which contain ~75 gross one-mile horizontal drilling locations, are concentrated in its Central acreage block contiguous with acreage from the recently closed acquisition of 57K net acres in the Delaware Basin.
- PDC says its working interest in the acquired leasehold is 100%, and it expects to operate 100% of the properties.