Eagle Rock Energy Partners LP, Houston, (Nasdaq: EROC) plans to acquire Houston-based Escambia Asset Co. LLC and privately held Houston-based Redman Energy Holdings LP. In another deal, it has acquired certain assets of Odessa, Texas-based MacLondon Energy LP. The three deals are for a total $420 million in cash and equity. The Escambia assets include 33 operated wells in Escambia County, Alabama. The assets include two treating facilities, a gas-processing plant and related gathering systems. Net production is 3,300 barrels of oil equivalent per day. Proved reserves are 12.2 million barrels equivalent (89% proved developed producing). The Redman assets include Redman Energy Holdings LP and Redman Energy Holdings II LP and certain assets owned by affiliate NGP Income Co-Investment Opportunities Fund II LP that include 76 operated and 95 nonoperated wells mainly in East and South Texas. Production is 1,810 barrels equivalent per day. Proved reserves are 8.3 million barrels equivalent (78% proved developed producing). The MacLondon assets include certain mineral and royalty interests in approximately 1,200 wells in various U.S. states in which Eagle Rock gained interest following its acquisition of Houston-based Montierra Minerals & Production LP in May. Net production is 21 barrels of oil and 780,000 cubic feet of gas per day.
Recommended Reading
After Big, Oily M&A Year, Upstream E&Ps, Majors May Chase Gas Deals
2025-01-29 - Upstream M&A hit a high of $105 billion in 2024 even as deal values declined in the fourth quarter with just $9.6 billion in announced transactions.
Scout Taps Trades, Farm-Outs, M&A for Uinta Basin Growth
2024-11-29 - With M&A activity all around its Utah asset, private producer Scout Energy Partners aims to grow larger in the emerging Uinta horizontal play.
Reuters: Northern Oil and Gas in Bid to Acquire Smaller Rival Granite Ridge, Sources Say
2024-12-20 - Northern Oil and Gas has made an acquisition offer for Granite Ridge Resources, according to people familiar with the matter.
Vitesse Energy to Buy Bakken Pureplay Lucero in $220MM Deal
2024-12-16 - Vitesse Energy will acquire Lucero Energy’s Bakken/Three Forks assets, including 25 net remaining locations, 1.9 net DUCs and 20 wells that are candidates for recompletions.
Camino Reportedly Seeking $2B Sale as Midcon M&A Heats Up
2025-01-30 - Oklahoma producer Camino Natural Resources—one of the Midcontinent’s largest private E&Ps—is reportedly exploring a sale in the range of $2 billion.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.