Reliance Eagleford Upstream Holding and Ensign Operating completed the acquisition of Texas assets of Newpek for $88m.

Reliance Eagleford Upstream Holding, a holding company, and Ensign Operating, an exploration and production company, completed their acquisition of Texas assets of Newpek, a subsidiary of diversified Mexican conglomerate Alfa SAB, for $88m. The transaction is in line with ALFA’s strategy of unlocking underlying value potential through divestitures and spin-offs. In a statement released on August 17th, ALFA said that the company intends to move away from its current conglomerate structure towards fully independent subsidiaries.