Private energy investment manager Scout Energy Partners has concluded the sale of more than $1 billion in producing oil and gas assets in the Western Anadarko Basin.
The assets located in western Oklahoma and the Texas Panhandle were acquired by an “undisclosed buyer,” according to the announcement by Scout, a Dallas-based energy firm. However, a report by Hart Energy showed the buyer was Jonah Energy and the sale also involved Eiger Operating and Burk Royalty. The report indicated the assets from Scout are located in Oklahoma, Kansas and Texas and the sale involved three gas processing plants, more than 7,200 miles of gathering pipelines and 400,000 hp of compression capacity. Eiger will operate the Hugoton assets while Burk Royalty will manage the Panhandle assets with Jonah Energy as part of the buying partnership.
“We are happy to announce the successful conclusion of this divestiture,” said John Baschab, Co-Founder and Managing Director of Scout. “This is an important position that we built meticulously over a decade through multiple acquisitions, creating value through integration and operating improvements. We are pleased to pass on stewardship of these assets for their next chapter.”
Producing approximately 250 million cubic feet equivalent per day from natural gas, natural gas liquids and helium across approximately 3 million acres, the assets are strategically located within one of the largest natural gas fields in North America. The position also includes significant midstream infrastructure, including three gas processing plants, over 7,200 miles of gathering pipelines, and approximately 400,000 horsepower of compression capacity.
The announcement said the significant transaction highlights Scout’s commitment to strategic asset management and value creation. The assets, which form part of a generational conventional business, include operated upstream and midstream ownership. The diversified portfolio has been integrated across multiple acquisitions, reflecting Scout’s growth trajectory and robust operational capabilities.
“The completion of this sale represents another milestone for Scout Energy Partners in its ongoing journey to optimize its portfolio and execute on its strategy of acquiring, operating and improving upstream energy assets and midstream infrastructure,” stated the announcement.
RBC Capital Markets acted as exclusive financial advisor to Scout for this transaction.
About Scout Energy Partners
Scout is a private energy investment manager headquartered in Dallas, Texas, focused on the acquisition, operation and improvement of upstream energy assets and midstream infrastructure. Scout has raised nearly $2.5 billion in equity commitments and has completed over 60 energy asset acquisitions since its founding in 2011. For learn more about Scout, please visit www.scoutep.com.