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Värde and Titanium Exploration acquire oil and gas assets in US


31 October 2016

Global alternative investment firm Värde Partners and Titanium Exploration Partners have acquired oil and gas assets within the Stack play in Oklahoma, US, and the Eagle Ford Shale play, Texas.

An acronym for Sooner Trend Anadarko Canadian Kingfisher, Stack Play is an area of central Oklahoma that is home to multiple oil and natural gas-rich reservoirs, including the Meramec, Oswego, Osage, Woodford and Hunton formations.

The Stack acquisition comprises non-operated working interests that cover about 3,600 net acres and 1,100 barrels of oil equivalent (boe) of daily production.

These assets consist of non-operated working interests in Blaine and surrounding counties.

"We are excited to have the opportunity to partner with Titanium, and we look forward to building on this foundation of high-quality assets."

The Eagle Ford Acquisition comprises about 3,900 net acres and around 1,050boe of daily production.

Värde Partners director Markus Specks said: “We are excited to have the opportunity to partner with Titanium, and we look forward to building on this foundation of high-quality assets.

“Consistent with our firm’s core value tenets, we continue to pursue opportunities in the energy sector. These transactions in partnership with Titanium represent an important step in that regard.”

Consisting of non-operated working interests alongside EOG Resources in Karnes and Gonzales Counties, the assets also include operated working interests in Karnes and Atascosa counties, Texas.

Titanium will manage both the assets on behalf of Värde, which provided funding for both acquisitions.

Titanium Exploration Partners executive chairman and chief investment officer Peter Halloran said: “These acquisitions reflect our investment thesis to build core positions on behalf of our investors in the most economic basins and plays in the current commodity price environment.”

The currently managed assets of Titanium consist of producing and non-producing oil and natural gas reserves in the Eagle Ford Shale play and in the Scoop / Stack / Merge plays in Oklahoma.

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