Langford Energy Partners (LEP), a private oil and gas operator, has announced the purchase of significant Midland Basin assets from Murchison Oil and Gas, LLC, marking a strategic move that both expands LEP’s footprint in West Texas and underscores the company’s intent to pursue further growth through additional acquisitions.
According to CEO Lance Langford, this latest transaction gives the LEP team a prime opportunity to build on a longstanding track record of operational success and strong investor returns. “We view this new asset as a cornerstone for future expansion through bolt-on deals in the Midland Basin,” he said.
Executive Chairman Bud Brigham echoed Langford’s enthusiasm. “It’s exciting to capture what we believe is a high-quality property perfectly aligned with our broader strategy,” he noted. “On a personal level, it’s incredibly rewarding to return to the part of the Midland Basin where I launched my career and drilled my very first wells.”
Encompassing roughly 8,000 net acres across Howard, Borden, and Midland counties, the newly acquired properties produce around 7,200 barrels of oil equivalent per day, with oil accounting for roughly 72% of total production. The asset includes 63 operated horizontal wells, along with enough undeveloped drilling locations to maintain significant future production. Also included is an established network of infrastructure—crucial to supporting continued growth and expansion—plus two owned saltwater disposal wells.
The transaction officially closed on December 6, 2024. Financing was provided through equity from Langford Energy Partners I, LP, as well as senior bank debt arranged via a credit facility led by Texas Capital Bank.
LEP’s management believes the deal positions the company to capitalize on the region’s growth trajectory and deliver strong returns to investors. Future plans call for leveraging these assets as a platform for additional acquisitions and operational efficiencies throughout the Midland Basin.
