DALLAS--(BUSINESS WIRE)--IOG Capital, L.P. (“IOG” or the “Firm”) is pleased to announce that it has closed three separate development capital commitments that total $185 million in the last 60 days.
IOG’s joint development agreement with a privately-held Oklahoma City-based operator will provide the Firm with its first entry into one of the most active areas of the Anadarko basin. IOG’s $60 million commitment will fund the development of wells over the next two years.
Additionally, IOG is working with a private working interest owner to provide funding for well proposals from various high quality operators to develop wells in the core of the Bakken and Three Forks. IOG will fund up to $25 million over the next twelve months.
IOG completed these two transactions in addition to the $100 million Eagle Ford joint development agreement IOG Capital closed on July 27, 2015 with Lonestar Resources Ltd. (OTCQX:LNREF, ASX:LNR). Under the agreement with Lonestar, IOG will provide capital for strategic development opportunities in the Eagle Ford Shale.
The Firm is focused on providing capital for onshore oil and gas development projects that meet its investment parameters:
- Require between $25 million and $250 million
- Operated by experienced teams
- Demonstrated cost and well performance profiles
- Marketing infrastructure in-place
For more information or deal inquiries, please contact IOG’s main office at 214-272-2990.
About IOG Capital
IOG Capital, L.P. is an energy focused private investment firm partnered with Fortress Investments and Metalmark Capital with over $700 million in deployable capital. Founded in 2014 by former Chesapeake Energy Corporation (NYSE: CHK) Chief Financial Officer, Marc Rowland, the Firm seeks to provide funding solutions to development oriented oil and gas projects located onshore in the United States through joint development agreements and non-operated asset level investment.