DALLAS--(BUSINESS WIRE)--Privately held upstream oil and gas investment firm IOG Capital, LP (“IOG”) today announced that since May 1st, 2016 it has committed to fund over $260 million for the acquisition and development of assets in partnership with operators in drilling programs located in the Permian, STACK, Austin Chalk and Eagle Ford plays. With these new commitments, IOG is now active in six of the leading on-shore U.S. hydrocarbon plays (previous projects in the Bakken and Marcellus were already underway, as well as positions in the Eagle Ford and STACK).
IOG’s Founder and Senior Managing Director Marc Rowland stated, “IOG is pleased to add these additional development programs to our firm’s platform of investments. Our capital continues to prove valuable to high quality operators with economic assets in today’s difficult price environment.”
Over the last fourteen months, IOG has entered into fifteen agreements with a broad group of private and public operators and non-operators to provide working interest capital for defined development drilling programs.
As of July 20, 2016, IOG is active in four states and fifteen counties. This includes over 180 wells that are in various stages of production or development in programs currently employing eight rigs. The total capital for these programs is projected to be in excess of $1 billion of which IOG expects to fund over $700 million.
Rowland added that “we are very excited about our current and pending projects, and hope to announce additional development agreements in the near future.”
About IOG Capital, LP
Founded in 2014, IOG Capital, LP is a Dallas, Texas based energy investment firm that manages oil and gas real assets. The Firm seeks to invest in upstream oil and gas development projects located onshore in the United States through joint development, and traditional joint operating agreements. Additional information about IOG Capital is available at www.iogcapital.com.