OKLAHOMA CITY--(BUSINESS WIRE)--Red Wolf Natural Resources, LLC (“Red Wolf”), a newly formed oil and gas exploration and production company, today announced it has acquired approximately 56,000 net acres and associated production in Oklahoma’s SCOOP, STACK and Merge plays as well as the broader Anadarko Basin.
- Approximately 56,000 total net acres with proven well results in primary target zones
- Contiguous acreage positions in each resource play support significant future development via extended-lateral drilling
- Existing infrastructure and agreements with top-tier midstream operators in the region allow for efficient development
“We are excited to announce our re-entry into Oklahoma’s prolific SCOOP, STACK and Merge plays with the acquisition of these assets. Our leadership team has a successful track record in and deep knowledge of this area from our prior experience,” said Red Wolf CEO Drew Deaton. “This strategic acquisition represents both near-term and long-term value as well as significant growth potential for Red Wolf. We think that the SCOOP, STACK, and Merge plays combine many important characteristics of top-tier hydrocarbon plays, including multiple benches of stacked pay which provide compelling economic returns and repeatable results. We look forward to leveraging our technical and operational expertise to aggressively delineate and develop these assets to their full potential.”
Based in Oklahoma City, Red Wolf was formed in February 2019 with an equity commitment from Pearl Energy Investments.
Thompson & Knight LLP and Kirkland & Ellis LLP served as legal advisors to Red Wolf.
About Red Wolf Natural Resources
Red Wolf Natural Resources is an Oklahoma City based upstream oil and gas company. Red Wolf is focused on selectively investing in upstream assets and projects which have exploitation, development, and growth potential with the goal of creating significant value. For more information, please visit www.red-wolf.com.