OG Resources Invests $125 Million in Powder River Basin
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IOG Resources III closed of a joint development partnership in the Powder River Basin with an undisclosed operator.
The drilling program includes 18 horizontal Niobrara wells located in Converse County, Wyoming and represents approximately $125 million of net capital.
This partnership marks the first investment by IOGR III. Together, it is the twentieth investment for the FR IOGR Platform and represents a cumulative gross capital deployed of over $1 billion.
IOG Resources is a Texas-based energy investment platform formed in 2014 and sponsored by First Reserve since 2017. Together, IOG Resources and First Reserve are focused on investing in producing non-operated oil & gas assets and structured drilling capital in North America.
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