American Energy NonOp LLC (AENO), an affiliate of Aubrey McClendon’s American Energy Partners LP, said Nov. 12 that it closed a series of transactions in Oklahoma for about $251 million.

AENO acquired nonoperated working interests with about 1,800 barrels of net oil equivalent (boe) of daily production in the South Central Oklahoma Oil Province (SCOOP) and STACK resource plays from Double Eagle Energy Holdings LLC and several other entities.

The properties are primarily in Canadian, Carter, Garvin, Grady, Kingfisher, Love and Stephens counties in south and central Oklahoma.

In conjunction with the acquisitions, AENO secured a $250 million credit facility led by MUFG Union Bank N.A. The credit facility has an initial borrowing base of $50 million.

AENO said it has established a premier, diversified position in the SCOOP and STACK resource plays across 543 existing or potential spacing units, including significant exposure to the highly productive Woodford and Meramec shales and the emerging Goddard/Springer Shale.

The Goddard/Springer recently yielded 24-hour initial production rates greater than 1,100 boe/d, resulting in average single well gross estimated ultimate recoveries of 940 Mboe (84% liquids).

Key operators include Continental Resources Inc. (NYSE: CLR), Newfield Exploration Mid-Continent Inc., ExxonMobil’s (NYSE: XOM) XTO Energy Inc. and Marathon Oil Corp. (NYSE: MRO).

AENO’s lead equity investor is The Energy & Minerals Group, with additional equity provided by AENO’s management team. Double Eagle, based in Fort Worth, Texas, is owned by funds affiliated with private equity firm Apollo Global Management LLC (NYSE: APO).

AENO is an independent oil and natural gas company affiliated with American Energy Partners focused on the acquisition, development and production of onshore U.S. unconventional nonoperated oil and natural gas reserves, with assets located in the Midcontinent, South Texas, Permian Basin, North Louisiana and Williston Basin.

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