Vitol’s VTX has agreed to divest 46,000 surface acres in the Southern Delaware Basin to LandBridge.

Vitol’s US upstream company, VTX Energy Partners, LLC (“VTX”), has entered into a purchase and sale agreement to divest approximately 46,000 surface acres in the Southern Delaware Basin to LandBridge Company LLC (NYSE: LB) for a consideration of $245 million in cash.

VTX remains active in oil and gas operations in the Southern Delaware Basin with over 40,000boepd of production in 2024.

Piper Sandler & Co. is serving as financial advisor and Gibson, Dunn & Crutcher LLP is serving as legal advisor to Vitol and VTX Energy Partners.

About Vitol

Vitol is a leader in the energy sector with a presence across the spectrum: from oil through to power, renewables and carbon. It trades 7.4 million barrels per day of crude oil and products, and charters circa 6,000 sea voyages every year.
Vitol’s clients include national oil companies, multinationals, leading industrial companies and utilities.
Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including: 17 m m3 of storage globally, circa 500 k b/d of refining capacity, over 7,000 service stations and a growing portfolio of transitional and renewable energy assets.

About LandBridge

LandBridge owns approximately 221,000 surface acres across Texas and New Mexico, located primarily in the heart of the Delaware sub-basin in the Permian Basin, the most active region for oïl and natural gas exploration and development in the United States. LandBridge actively manages its land and resources to support and encourage oil and natural gas production and broader industrial development. Since its founding in 2021, LandBridge has served as one of the leading land management businesses within the Delaware Basin. LandBridge was formed by Five Point Energy LLC, a private equity firm with a track record of investing in and developing energy, environmental water management and sustainable infrastructure companies within the Permian Basin.