Ring Energy Inc. (AMEX: REI) added to its position in the Permian’s Central Basin Platform (CBP) with a recent “core-of-the-core” bolt-on acquisition in Andrews County, Texas. The acquisition, which Ring said closed on Dec. 26, consists of 4,763 net acres in Andrews County from Tessara Petroleum Resources LLC, a subsidiary of global asset management firm The Carlyle Group LP (NASDAQ: CG). Ring will be the operator with a 100% working interest and 75% net revenue interest in the acquired acreage offsetting existing the company’s position where it has focused on drilling horizontal wells targeting the San Andres Formation.
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