Tammany Oil & Gas Acquires Dominion Properties
Tammany Oil & Gas acquired the Dominion Oklahoma Texas Exploration & Production, Inc. (DOTEPI) Gulf of Mexico Shelf Divestment Package. The sales package contained properties located in both state and federal waters across the Gulf, both operated and non-operated. The purchase price was not disclosed; however, financing was provided to Tammany by NGP Capital Resources Company. The transaction closed June 5, 2007.
Erich Kraus, President of Tammany, said, “We are quite pleased with this opportunity. This divestment was part of Dominion’s larger strategy to concentrate on their core business. At the same time this transaction enables Tammany to grow and continue our search for other quality acquisitions.”
DOTEPI is a subsidiary of Dominion and is headquartered in Houston, Texas. Tammany is an independent oil and natural gas company headquartered in Houston, Texas, focused on the acquisition and development of oil and gas properties located in the Gulf of Mexico and Gulf Coast areas.