Acquisition of Substantial Producing, Low Decline Oil and Gas Assets in Kentucky, Tennesee and Texas
CHICAGO–(BUSINESS WIRE)–Dara Energy (“Dara”), a production focused company, announced it has closed an agreement to acquire oil and gas assets in Kentucky, Tennessee, and Texas from Vinland Energy (“Vinland”).
The assets consist of low decline, long-lived producing wells, and their corresponding midstream infrastructure. According to Dara CEO, Patrick Conway, the deal is poised to deliver strong risk-adjusted returns for Dara’s investors.
The acquisition positions Dara to continue to grow its portfolio of producing oil and gas assets with associated midstream infrastructure. The company’s goal is to offer superior risk adjusted returns to investors through disciplined underwriting, efficient operations, and active risk management.
Commenting on the close, Patrick Conway said, “We are excited to deploy capital in what we believe to be institutionally underserved asset class: producing energy assets. Dara Energy is committed to best-in-class operations relying on knowledgeable management and data driven decision making. With a strategic focus on optimizing mature, producing assets, our team is dedicated to the success of all stakeholders from our investors to local communities.”
About Dara Energy
Dara Energy (“Dara”) is a production focused company founded in 2020. It operates a portfolio of low decline, long-lived energy assets. The company’s focus is value creation while maintaining discipline throughout economic cycles.
Contacts
Website: http://www.daraenergy.com
Email: [email protected]
