Evolution Petroleum Corporation completed the acquisition of Non-operated oil and natural gas assets in the SCOOP plays in central Oklahoma from Red Sky Resources III, LLC, Coriolis Energy Partners I, LLC and Red Sky Resources IV, LLC.
February 11, 2024
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Evolution Petroleum Corporation (NYSEAM:EPM) entered into definitive agreement to acquire Non-operated oil and natural gas assets in the SCOOP plays in central Oklahoma from Red Sky Resources III, LLC, Coriolis Energy Partners I, LLC and Red Sky Resources IV, LLC on January 5, 2024. In a related agreement, Evolution Petroleum Corporation entered into definitive agreement to acquire Non-Operating Working Interests in Oil And Natural Gas Properties in STACK plays in Central Oklahoma. As part of transaction, Evolution expects to fund the transactions from cash on hand and borrowings from the Company's senior credit facility with MidFirst Bank. As of December 31, 2023, and prior to the transaction, the Company had approximately $8 million in cash on hand and had no outstanding borrowings under the credit . The transaction is expected to close in mid-February during the Company?s third quarter of fiscal 2024 and is subject to customary closing adjustments.
Evolution Petroleum Corporation (NYSEAM:EPM) completed the acquisition of Non-operated oil and natural gas assets in the SCOOP plays in central Oklahoma from Red Sky Resources III, LLC, Coriolis Energy Partners I, LLC and Red Sky Resources IV, LLC on February 12, 2024.
Evolution Petroleum Corporation is an independent energy company. The Company is focused on ownership of and investment in onshore oil and natural gas properties in the United States. Its oil and natural gas properties consist of non-operated interests in the non-operated interests in the Jonah Field in Sublette County, Wyoming, a natural gas producing field; non-operated interests in the Williston Basin in North Dakota, a producing oil and natural gas property; non-operated interests in the Barnett Shale located in North Texas, a natural gas producing property; non-operated interests in the Hamilton Dome Field located in Hot Springs County, Wyoming, a secondary recovery field utilizing water injection wells to pressurize the reservoir; non-operated interests in the Delhi Holt-Bryant Unit in the Delhi Field in Northeast Louisiana, a CO2 enhanced oil recovery (EOR) project; and small overriding royalty interests in four onshore central Texas wells.
Evolution Petroleum Corporation completed the acquisition of Non-operated oil and natural gas assets in the SCOOP plays in central Oklahoma from Red Sky Resources III, LLC, Coriolis Energy Partners I, LLC and Red Sky Resources IV, LLC.