KKR Acquires O&G Assets in Southeast Tx.
Kohlberg Kravis Roberts (KKR) has acquired certain oil and gas assets in southeast Texas in two related acquisitions. The transactions, together valued at $40 million, are the first acquisitions by KKR Natural Resources, KKR's partnership with Premier Natural Resources (Premier) formed to pursue investments in oil and gas properties in North America.
"We are both excited about this asset and about the many attractive opportunities that we continue to see to acquire oil and gas properties in North America," said Jonathan Smidt, a Director at KKR and a senior member of KKR's Energy and Infrastructure business.
The assets are largely comprised of long-lived natural gas wells producing out of the Wilcox formation in Southeast Texas.