The Dallas-based company, Valor Energy Partners, LLC, has
completed the acquisition of the Northwest Flats Unit, a water flood project development located in Texas County, OK and Morton County, KS in a privately negotiated transaction.
It is a deal that gives Valor more holdings in the Oklahoma Panhandle and southwest Kansas. Morton County’s largest city is Elkhart.
Valor did not identify the seller or sellers nor the amount, but in a statment explained the acquisition of and subsequent resumption of production from this asset provides Valor with near-term cash-flowing production and the potential to increase production significantly through a number of identified recompletion, workover, and field optimization initiatives. The company explained the acquisition is aligned with Valor’s strategy of pursuing assets with established production history and specifically identified lower-risk production enhancement development opportunities.
Valor has teamed up with Redline Resources and H2Ox Operating of Tulsa for a joint operational program to enhance the current production of over 90% liquids.
Jason Old, CEO of Redline Resources, H2Ox Operating and Valor
Energy Partners stated, “The closing of this transaction will enhance our footprint in the panhandle area of OK, will be a boost to our existing operations, all while maintaining a self-funding cash flow model to create value and upside for investors.”
John Lancaster, Managing Partner of Oyster Creek Capital Partners and a Valor Energy investor and Partner added “The Northwest Flats field represents a classic example of the opportunity that remains in many established oil and gas
basins in N. America and in the mid-continent region, specifically. But success with such assets requires both field-level execution expertise and active local engagement to operate safely, responsibly, and efficiently. Valor is pleased to partner with Redline and H2Ox on this opportunity.”
Valor Energy Partners, LLC targets non-core, under-invested cash-flowing, conventional energy assets, located primarily in Oklahoma, Texas, and Kansas.