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PE-backed Sequitur buys Southern Midland Basin Assets

Sequitur Permian LLC, an affiliate of Sequitur Energy Resources LLC, said it acquired the producing properties in the Impossible and Barnyard Fields located in Reagan, Crockett, Irion and Schleicher Counties, Texas. Financial terms weren’t announced. The properties have net current production of approximately 10,000 net Boepd. Sequitur is backed by Acon Investments.

PRESS RELEASE

August 05, 2016 05:24 PM Eastern Daylight Time

HOUSTON–(BUSINESS WIRE)–Sequitur Permian, LLC, an affiliate of Sequitur Energy Resources, LLC (collectively, “Sequitur”), announces the recent acquisition of producing properties in the Impossible and Barnyard Fields located in Reagan, Crockett, Irion and Schleicher Counties, Texas.

Transaction Highlights

  • Net current production of approximately 10,000 net Boepd
  • Substantial gas and water gathering infrastructure facilities connected to multiple third party processing facilities
  • Sequitur will operate 100% of the assets
  • Low operating costs
  • Significant inventory of development opportunities in the Wolfcamp formations

Scott D. Josey, CEO, said, “This acquisition further expands our Permian Basin footprint and provides Sequitur with meaningful opportunities for growth. These assets also nicely complement our existing position in the Buda – Rose play in East Texas.”

Vinson & Elkins LLP acted as legal advisor to Sequitur.

About Sequitur

Sequitur Energy Resources, LLC is a private company focused on acquisition and development of oil and gas assets in North America. Sequitur’s management team consists primarily of the former executive management team of Mariner Energy, Inc. (“Mariner”). Mariner merged with Apache Corporation in 2010 in a transaction valued in excess of $4 Billion. Sequitur’s primary equity sponsor is Acon Investments.

For questions, please contact Braden Merrill, VP and CFO, at 713-395-3008 or visit our website at www.sequiturenergy.com.