Eagle Energy Exploration LLC, a Tulsa-based oil and gas company, Monday announced the signing of a definitive agreement to acquire oil and gas assets in Oklahoma's Mississippi Lime play from Fairway Resources Partners II, LLC for $195 million.
The properties to be acquired comprise approximately 20,000 net acres in Alfalfa, Grant and Woods counties with current production from the Mississippi Lime.
Riverstone Holdings LLC, an energy and power-focused private investment firm, and Eagle II management, led by CEO and Chairman Steve Antry, President and COO Michael O'Kelley and CFO Ben Kemendo, previously partnered successfully in Eagle Energy Company of Oklahoma LLC.
In a statement, closed-ended investment company Riverstone noted that Eagle II will continue to pursue exploration and development opportunities in the Mid-Continent region, leveraging its deep operating experience and building on its prior success accumulating, delineating and developing acreage in the region.
Antry said, "We are excited to re-enter the Mississippi Lime with this acquisition and believe it will provide an ideal platform as we expand our efforts in the play and other unconventional Mid-Continent formations."
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