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The Wall Street Journal: RSP Permian to buy Silver Hill in $2.5 billion Texas oil deal

RSP Permian Inc. on Thursday said it agreed to acquire Silver Hill Energy Partners LLC and Silver Hill E&P II LLC for about $2.5 billion.

The oil and natural gas company RSPP, -0.26% will pay $1.25 billion in cash and 31 million shares of its common stock for Silver Hill.

Silver Hill comprises two privately held entities controlled by affiliates of Kayne Anderson Capital Advisors LP and Ridgemont Equity Partners that in total own about 41,000 net acres in northeast Loving and Winkler Counties, Texas.

The Silver Hill Energy Partners deal is expected to close in the fourth quarter of 2016, with Silver Hill receiving about $604 million in cash and 15 million RSP shares.

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