Legacy Reserves sells Haynesville assets to Comstock Oil & Gas

Legacy Reserves is reportedly planning to divest its oil and gas assets in the Permian and Haynesville basins in the US.

According to a Reuters report, the company has already appointed an investment bank to run the assets sale process.

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At current commodity prices, the assets are valued at approximately $800m, the news agency added, citing sources familiar with the development.

As per Legacy’s estimates, production from the shale assets in the Permian basin would total an estimated 11,000 barrels of oil equivalent per day (boepd) in January 2022.

The company’s assets in Haynesville are estimated to produce approximately 108 million cubic feet of natural gas equivalent per day in January.

Last week we identified the transfer of 8 facilities from Legacy Reserves to Comstock located in Robertson, Leon and Freestone counties. The transfer of these facilities is an indication that Comstock has purchased all or parts of Legacy Haynesville assets.

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