IOG Resources Acquires Delaware Basin Producing Assets
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IOG Resources has acquired producing oil and gas assets in the Delaware Basin from Tier 1 Merced Holdings. The assets consist of non-operated wellbores primarily located in Eddy and Lea counties, New Mexico.
With this acquisition, IOGR adds net production of approximately 3,800 boe/d under top-tier operators including Devon, Conoco, and Marathon.
In conjunction with the transaction, IOGR successfully closed a new, upsized revolving credit facility. Following the transaction, the IOGR portfolio includes 12 discrete investments across 6 core basins in the US.
About IOG Resources
IOG Resources is a Dallas, Texas-based energy investment platform sponsored by First Reserve. The company was established in 2017 and invests in diversified upstream oil and gas assets as a non-operated working interest partner.
To stop by IOG’s website, CLICK HERE
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