Austin, TX-based Luxe Energy LLC has been identified as the seller in a $560 million deal with Diamondback Energy Inc. for assets in the Permian Basin's Delaware sub-basin (see Shale Daily, July 13). Luxe, formed in 2015 by Natural Gas Partners’ NGP Natural Resources XI LP, acquired the Delaware properties in early 2016 (see Shale Daily, Jan. 22; May 14, 2015). Luxe CEO A. Lance Langford said the company planned to work with NGP to "identify, evaluate and execute on additional acquisition opportunities." The Diamondback transaction is expected to be completed in September.
More than 11,800 Texas landowners have approved a $51 million settlement with Chesapeake Energy Corp. and a unit of Total SA over claims they were cheated out of natural gas royalties in the Barnett Shale. Fort Worth, TX-based McDonald Law Firm and Circelli, Walter & Young said 91% of the 13,000 clients they represented agreed to the pact reached in May (see Shale Daily, May 23). The clients agreeing to the settlement account for 97.15% of the gas produced. Chesapeake agreed to pay $29.4 million in cash and $10 million through a loan payable in 2019. Total agreed to pay $13.1 million.