ATX Energy Partners is a privately held oil and gas company focused on using advanced technologies to identify and develop unconventional, liquids rich resource plays. Headquartered in Austin, Texas, ATX was founded by the former management team members from Brigham Resources, LLC following the company’s sale of substantially all of its southern Delaware Basin assets to Diamondback Energy for $2.55 billion. At the time of the sale to Diamondback in February 2017, Brigham Resources was producing 8,500 Boe per day from its 80,185 net acres located in Pecos and Reeves counties, Texas.
Our management team has a long history of identifying, acquiring, delineating and developing early stage domestic resource plays. Prior to forming Brigham Resources, a subset of our management team oversaw the identification, acquisition, delineation and development by Brigham Exploration Company of approximately 375,000 net acres in the Williston Basin prior to its December 2011 sale to Statoil ASA for $4.4 billion.
At present, ATX is evaluating resource opportunities in the U.S. Lower 48. Historically, the team has focused on early stage “frontier” opportunities that lack meaningful horizontal drilling validation, but would also consider partially delineated opportunities that have yet to fully benefit from an optimal drilling and completion formula. Going back to work in the Permian Basin and / or the Williston Basin would be two obvious alternatives, given the ATX team’s success in both of these basins. ATX is also currently evaluating opportunities in selected basins in the Rockies.