Canyon Creek Energy - Arkoma LLC said July 25 it acquired a core operated leasehold position in more than 30,000 acres in the liquid-rich Arkoma Stack play.

The Tulsa, Okla.-based company said “a great deal of such acreage” has been acquired from Arkoma Leasing LLC. The terms of the transaction weren't disclosed.

Canyon Creek Energy - Arkoma is a joint venture between Vortus Investment Advisors, a Fort Worth, Texas-based private equity firm, and private investors to develop Oklahoma Arkoma Basin assets.

“With these acquisitions, Canyon Creek Energy has established itself as a leader in the re-emerging Arkoma Stack liquids play,” Luke Essman, president and CEO of Canyon Creek - Arkoma, said in a statement.

Essman said preliminary drilling results on Canyon Creek's concentrated leasehold position validate the company's technical analysis of the Arkoma Stack play.

“We intend to continue our current successful leasing and drilling program in the area,” he added.

Prior to Canyon Creek Energy - Arkoma, Essman partnered with ArcLight Capital Partners, a Boston-based private equity firm, to form Canyon Creek Energy Partners focused on exploiting undervalued properties in the Midcontinent. He successfully divested the company’s assets to BP Plc (NYSE: BP) in the fall of 2015, according to the company's website.

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