Red Wolf Natural Resources, LLC Acquires Assets in Oklahoma’s SCOOP, STACK and Merge Resources Plays
Red
Wolf Natural Resources, LLC (“Red Wolf”), a newly formed oil and gas
exploration and production company, today announced it has acquired
approximately 56,000 net acres and associated production in Oklahoma’s
SCOOP, STACK and Merge plays as well as the broader Anadarko Basin.
Acquisition Highlights:
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Approximately 56,000 total net acres with proven well results in
primary target zones
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Contiguous acreage positions in each resource play support significant
future development via extended-lateral drilling
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Existing infrastructure and agreements with top-tier midstream
operators in the region allow for efficient development
“We are excited to announce our re-entry into Oklahoma’s prolific SCOOP,
STACK and Merge plays with the acquisition of these assets. Our
leadership team has a successful track record in and deep knowledge of
this area from our prior experience,” said Red Wolf CEO Drew Deaton.
“This strategic acquisition represents both near-term and long-term
value as well as significant growth potential for Red Wolf. We think
that the SCOOP, STACK, and Merge plays combine many important
characteristics of top-tier hydrocarbon plays, including multiple
benches of stacked pay which provide compelling economic returns and
repeatable results. We look forward to leveraging our technical and
operational expertise to aggressively delineate and develop these assets
to their full potential.”
Based in Oklahoma City, Red Wolf was formed in February 2019 with an
equity commitment from Pearl Energy Investments.
Thompson & Knight LLP and Kirkland & Ellis LLP served as legal advisors
to Red Wolf.
About Red Wolf Natural Resources
Red Wolf Natural Resources is an Oklahoma City based upstream oil and
gas company. Red Wolf is focused on selectively investing in upstream
assets and projects which have exploitation, development, and growth
potential with the goal of creating significant value. For more
information, please visit www.red-wolf.com.
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Copyright Business Wire 2019
Source: Business Wire
(May 20, 2019 - 8:00 AM EDT)
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