Morningstar Partners buys some Energen assets

James Fenton
Southland Royalty Company, as seen on Aug. 17 at 811 South Main Ave. in Aztec.

FARMINGTON — A Fort Worth, Texas-based oil and gas company with offices in Aztec now owns and operates a majority of the Delaware and San Juan Basin assets formerly owned by Energen Corp.

Sources confirmed earlier this month that MorningStar Partners LP bought some of those assets from Birmingham, Ala.-based Energen.

Company officials in Texas declined to confirm the sale or discuss the assets included.

"As policy, our companies do not discuss any acquisitions externally or with the media," Pam Graham, a company official, said in an email.

Morningstar Partners was formed by former XTO Energy executives and includes subsidiaries Southland Royalty Co. and Cross Timbers Energy LLC,

Exxon Mobil Corp. bought XTO Energy in 2010 for $31 billion.

In July, LOGOS Resources II LLC bought the remaining Energen San Juan Basin assets and moved into Energen's former Farmington offices.

On June 20, Energen announced in a press release that it made $551.7 million from the sale of a portion of its assets in the Delaware and the San Juan Basin.

The sale represents Energen's exit from the San Juan Basin and investment in the Permian Basin in the southeast corner of New Mexico and west Texas.

James Fenton is the business editor of The Daily Times. He can be reached at 505-564-4621.