WildHorse Resource Development Corp. says it will pay $625 million to acquire 111,000 net acres and associated production in the Eagle Ford oil and natural gas play in Texas. Anadarko Petroleum Corp. and affiliates of Kohlberg Kravis Roberts & Co. L.P. are selling the assets.

Fourth quarter 2016 net production was 7,583 barrels of oil equivalent per day consisting of 72% oil from 386 operated wells. The transaction is expected to close by June 30.

The deal includes some 949 net Eagle Ford locations and 22.9 MMBoe of proved developed producing reserves made up of 73% oil and 88% liquids.

With a total of 385,000 net acres, Wildhorse ranks as one of the largest operators in the Eagle Ford trend. The company's pre-acquisition drilling schedule included 36 wells adjacent to the acquired acreage. With the acquisition, the company says it can further optimize pad location and development planning with fewer limitations.

"This transaction immediately adds value to our existing program,” says Jay Graham, chairman and CEO.