Eagle Rock Energy Partners LP, Houston, (Nasdaq: EROC) has closed its acquisition of Houston-based Escambia Asset Co. LLC and privately held Houston-based Redman Energy Holdings LP for a total $400 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).
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