NFR Energy acquires assets in Anadarko Basin and Eagle Ford shale for $736m

US-based NFR Energy has completed the acquisition of producing and unused oil and gas properties in the Anadarko Basin and the Eagle Ford shale, for around $736m.

Following the deal, the company will hold rights to three core operating areas with about 197,000 net acres in Cotton Valley and Haynesville, East Texas, US, 24,300 net acres in the Eagle Ford Shale and 64,000 net acres in the Anadarko Basin.

Estimated production capacity of the combined area is about 27,200 barrels of oil equivalent per day, of which 26% is liquids.

In another deal, NFR Energy acquired all TLP Energy’s assets, including the Anadarko Basin assets for $655m and Eagle Ford Shale assets from two independent oil and gas companies for $81m.

The Anadarko Basin includes about 64,000 net acres of the Granite Wash and Cleveland Sand formations, located in Ochiltree, Lipscomb, Roberts and Hemphill Counties, Texas.

Net production capacity of this assets is about 6,500 barrels of oil equivalent per day and estimated reserves of about 40 million barrels of oil equivalent and about 55% oil and natural gas assets (NGLs).

Anadarko Basin also includes about 425 drilling locations.

Eagle Ford Shale assets includes about 2,300 net acres in the Sugarkane acreage block and has proved reserves of about 20 MMboe, of which 55% is oil and NGLs.

Earlier in the year, the company secured acreage position in the Eagle Ford Shale.

The company funded the acquisitions with additional equity from First Reserve and proceeds from a $500m senior securedsecond lien term loan.