2011-02-15-2011-02-14-2011-02-14

Acquired 170 wells in 24 producing fields on approximately 35,000 gross acres in Williston Basin.

Houston-based Petro Harvester Oil & Gas LLC, an E&P company formed by TPG Capital to acquire mature oil and gas producing assets, has acquired long-life oil properties in the Williston Basin in North Dakota from a private seller.

The acquisition includes 170 wells in 24 producing fields and approximately 35,000 gross acres.

Non-executive chairman Gareth Roberts says, "The properties have a well-established production history, are heavily oil-weighted, and present strong opportunities to increase production through operational improvements and through the development of proven undeveloped reserves. We believe these assets are an excellent addition to our portfolio as we continue to grow Petro Harvester's scale."

The acquisition of the Williston Basin assets is the company's second since the company was formed in mid-2010. In December 2010, Petro Harvester acquired long-life oil and gas properties in Mississippi from Comstock Resources Inc.

Harvester is led by its non-executive chairman Gareth Roberts and a group of senior executives with extensive industry experience. The company is also planning to open an office in Denver, Colorado.

TPG Capital is the global buyout group of TPG, a leading private investment firm founded in 1992, with more than $48 billion of assets under management and offices in San Francisco, Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, Paris, Shanghai, Singapore and Tokyo.