Red Wolf Acquires Prime Acreage in Oklahoma
Red Wolf Natural Resources, LLC, a newly formed oil and gas E&P company based in Oklahoma City, has secured acreage in Oklahoma’s SCOOP, STACK and Merge plays as well as the broader Anadarko Basin, the company announced Monday.
“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,” Red Wolf CEO Drew Deaton said in a release. “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.”
Highlights of the acquisition include 56,000 total net acres with proven well results in primary target zones, contiguous acreage positions in each resource play and existing infrastructure and agreements with top-tier midstream operators in the region.
Red Wolf was formed in February 2019 with equity partner Pearl Energy Investments.
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