DALLAS–(BUSINESS WIRE)–IOG Resources today announced that IOG Resources II, LLC (“IOGR II”) has acquired non-operated working interests (the “Assets”) in the Utica Shale of the Appalachian Basin from an undisclosed seller. The Assets consist of approximately 175 developed wellbores and approximately 4,500 net acres of leasehold located in Eastern Ohio. Current net production is approximately 26 mmcfe/d under top-tier operators including Antero, Encino, EOG, EQT, Expand and Gulfport.
The acquisition represents the fifth investment made by IOGR II, which was raised in 2022, and the seventeenth investment for the IOG Resources platform. Foley & Lardner, LLC acted as legal counsel.
About IOG Resources
IOG Resources is a Texas-based energy investment platform formed in 2014 and sponsored by First Reserve since 2017. Together, IOGR Resources and First Reserve are focused on providing onshore producing non-operated oil & gas investments and structured drilling capital in North America. For more information, please visit www.iogresources.com.
About First Reserve
First Reserve is a leading global private equity firm investing across energy, utility, and industrial markets. Founded in 1983, First Reserve has more than 40 years of industry insight and has cultivated a differentiated network of relationships and portfolio exposure. Since inception, First Reserve has raised over $34 billion of aggregate capital and has developed operational expertise built from over 750 transactions, including platform investments and add-on acquisitions. Please visit www.firstreserve.com for further information.
Contacts
IOG Resources II, LLC
214-272-2990
