WildHorse Resource Development Corp. has closed its previously announced acquisition of approximately 111,000 net acres in the East Texas Eagle Ford from the Anadarko Petroleum Corp. and affiliates of Kohlberg Kravis Roberts & Co.
After customary purchase price adjustments, WRD paid $594.4 million to close the transaction, consisting of $533.6 million in cash and approximately 5.5 million shares of WRD common stock valued at $60.8 million.
“With the closing of this strategic acquisition, WildHorse is now the second-largest operator in the Eagle Ford trend with approximately 385,000 net acres. The acquisition acreage almost perfectly overlaps our existing position and is 95 percent held by production,” said Jay Graham, chairman and CEO of WRD.