5.9 C
New York
Friday, March 29, 2024

KKR Natural Resources Acquires Barnett Shale and Arkoma Basin Properties From WPX Energy for $306 Million

Courtesy of Benzinga.

Kohlberg Kravis Roberts & Co. L.P. (NYSE: KKR) announced today that it has entered into a definitive agreement to acquire certain Barnett Shale and Arkoma Basin properties from WPX Energy (NYSE: WPX) for $306 million. The transaction, which is expected to close in the second quarter, is being made through KKR Natural Resources (“KNR”), KKR’s partnership with Premier Natural Resources (“Premier”) to pursue investments in North American oil and gas properties, and is KNR’s third acquisition in the Barnett Shale.

The Assets are comprised of 27,000 net acres in North Central Texas and Eastern Oklahoma and 66,000 net acres in the Arkoma. The Barnett shale properties have a current net production of approximately 67 million cubic feet per day.

KNR has acquired over $900 million of assets since inception, including over $600mm of assets to date in 2012, and now operates over 150 mmcfe/d of net production. With $1 billion of capital currently available for investment, KNR has the capacity to purchase over $2 billion of additional properties and will seek to acquire high-quality, producing assets both within and outside its core operating areas over the next few years.


For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

157,450FansLike
396,312FollowersFollow
2,280SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x