Private equity-backed Red Wolf Natural Resources LLC purchased about 56,000 total net acres and related production in the SCOOP, STACK and Merge plays in the Anadarko Basin of Oklahoma.
"We are excited to announce our re-entry into Oklahoma's prolific SCOOP, STACK and Merge plays with the acquisition of these assets," Red Wolf CEO Drew Deaton said in a May 20 news release. "This strategic acquisition represents both near-term and long-term value as well as significant growth potential for Red Wolf."
Thompson & Knight LLP and Kirkland & Ellis LLP were legal advisers to Red Wolf for the deal.
Formed in February, Red Wolf is an upstream oil and gas company focused on the Midcontinent region. It has an equity commitment from private equity firm Pearl Energy Investments.