Brief: Wildhorse Resource Development announces strategic acquisition of Eagle Ford Properties

Global E-Commerce Holdings

11/05/2017 11:05

May 11 (Reuters) - Wildhorse Resource Development Corp 
 WRD.N  
    * Press release - wildhorse resource development corporation 
announces strategic acquisition of eagle ford properties 
    * Wildhorse resource development corp - deal for $625 
million 
    * Wildhorse resource development corp - raised estimated 
full-year 2017 production guidance range to 27.0 - 31.0 mboe/d 
from 23.0 - 27.0 mboe/d 
    * Wildhorse resource development corp - q1 2017 estimated 
production of approximately 17.6 mboe/d consisting of 49% oil, 
41% natural gas and 10% ngls 
    * Wildhorse resource development - deal consideration is 
$625 million including approximately $556 million of cash to apc 
and 6.3 million shares of wrd common stock 
    * Wildhorse resource development- in conjunction with deal, 
carlyle group to purchase $435 million of series a perpetual 
convertible preferred stock from wrd 
    * Wildhorse resource development corp - updated 2017 capex 
guidance has been increased to $550 - $675 million 
    * Wildhorse resource development corp - drilling program has 
also increased by 10 gross wells to between 100 - 120 gross 
spuds in 2017 
    * Wildhorse resource development corp - remainder of 
acquisition price is to be funded by borrowings under wrd's 
revolving credit facility 
    * Wildhorse resource development corp - number of gross 
wells brought online has increased by 5 wells to between 85 and 
105 gross wells in 2017 
    * Wildhorse resource development corp - announced 
acquisition will also increase working interest of 2017 and 2018 
development programs 
    * Wildhorse resource development - to buy about 111,000 net 
acres, associated production from anadarko petroleum and 
affiliates of kkr 
 
Source text for Eikon:  ID:nBw2qKD04a  
Further company coverage:  WRD.N  
 
 ((Bangalore.newsroom@thomsonreuters.com;))