Kentucky-based producer Dara Energy closed the acquisition of oil and gas assets in Kentucky, Tennessee and Texas from Vinland Energy, the company said in a May 6 press release.
The assets consist of low-decline, long-lived producing wells and related midstream infrastructure. The deal is poised to deliver strong risk-adjusted returns for Dara’s investors, Dara CEO Patrick Conway said in the release.
The acquisition positions Dara to continue to grow its portfolio of producing oil, gas and associated midstream assets.
Conway said Dara Energy is deploying capital in an underserved asset class: producing energy assets.
“Dara Energy is committed to best-in-class operations relying on knowledgeable management and data-driven decision making,” Conway said. “With a strategic focus on optimizing mature, producing assets, our team is dedicated to the success of all stakeholders from our investors to local communities.”
Recommended Reading
Quantum Capital’s View on AI: Lots of Benefits, Pain Points
2024-05-16 - The energy industry is lagging in the race to implement AI, but Sebastian Gass, CTO of Quantum Capital Group, offered a few solutions during Hart Energy’s 2024 SUPER DUG Conference & Expo.
Aramco Credits Adaptability, Collaboration for Driving Innovation
2024-05-15 - Aramco’s implementation of different approaches has led to the creation and commercialization of newer products, said Max Deffenbaugh, principal scientist for Aramco, at the 2024 Offshore Technology Conference in Houston.
OTC: E&Ps Improving Operational Safety with Digitization
2024-05-13 - Artificial intelligence and the digitization of the oilfield have allowed for several improvements in keeping operators out of harm’s way, panelists said during the 2024 Offshore Technology Conference.
Exclusive: Cost-effective Benefits of Extracting from Mature Assets
2024-05-13 - Baker Hughes' well abandonment leader Bart Joppe details the importance of extracting resources from mature assets and the company's approach to managing a well, in this Hart Energy Exclusive interview.
TGS Starts Up Multiclient Wind, Metaocean North Sea Campaign
2024-05-07 - TGS is utilizing two laser imaging and ranging buoys to receive detailed wind measurements and metaocean data, with the goal of supporting decision-making in wind lease rounds in the German Bright.