Diversified Finds a New Home in the Anadarko

Diversified Finds a New Home in the Anadarko

While late-year M&A activity in the Permian and Eagle Ford is in full swing, the acquisitions dance on our home turf is also getting a twirl. Reese Energy Consulting today is following the first of two recent oil and gas deals in Okla., where drilling has steadily ramped up as of late with 41 rigs at work—an increase of 241.7% over the same time last year. First up is Okla. City-based Tapstone Energy, the state’s largest leaseholder and mineral rights owner operating primarily in the Anadarko Basin. And that’s exactly where Birmingham, Ala.-based Diversified Energy is looking to…well, diversify its natural gas production. For 20 years, Diversified has operated solely in the Marcellus and Utica, producing gas, NGLs, and oil from 67,000 conventional and unconventional wells. Now, with a new expansion strategy in place to repeat its Appalachian business model in the Mid-Continent, Diversified will purchase Tapstone for $419 million. The deal includes 750,000 acres of mineral rights, 3,900 wells, and 25 MBOED in production with 80% in gas.

What do you think? Learn more about REC and our range of natural gas and NGLs marketing services at www.ReeseEnergyConsulting.com.

Tapstone Energy

Diversified Energy

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United Energy Makes a Bold Prediction

United Energy Makes a Bold Prediction

Plano, Texas-based United Energy is on a growth streak, gobbling up more assets in Okla., and Kans., where it expects to become one of the top operators in the Cherokee Basin before year end. Reese Energy Consulting today is following the latest announcement from United, which now will make its second acquisition since August. The latest purchase from former Tulsa-based Red Fork Energy includes a 140-mile natural gas pipeline in Wagoner County, Okla., with a capacity of 20 MCFD; a 5,000+ acres leasehold; and 89 company-owned wells. The transaction price was not disclosed. This follows United Energy’s combination deal a little more than two months ago with the buy-out of Okla.-based Entransco Energy that netted the company 250+ Coalbed Methane Gas (CBM) wells, 32,000 acres, and 118 miles of gathering pipe. Along for the ride was a 49% ownership stake in an additional 200,000 acres of non-operated oil and gas leases, 2,200+ wells, and 1,000+ miles of gas pipe. At the same time, United acquired the previously known Rogers County (Okla.,) Coal Seam Project from Ala.-based Montclair Energy, which included 80 wells and 10,000 acres of CBM development.

What do you think? Learn more about REC and our natural gas services and expertise at www.ReeseEnergyConsulting.com.

United Energy

United Energy Corporation is a diversified oil and gas producer based in Plano, TX with a 50-year history in the energy, manufacturing, and mining industries. The company’s new post-pandemic corporate directive includes exploration, development, production, technology and storage.

www.unrgcorp.com

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