Summit Discovery Resources II (SDRII), a subsidiary company of Japan-based Sumitomo Corp., has reached an agreement with IOG Gonzales 1835 LLC, an entity managed by IOG Capital, Covington Equity Investments, and 1836 Resources, to acquire certain producing Eagle Ford properties in South Texas.
As a result of the transaction, SDRII has become the 100 percent working interest owner and operator of the asset.
The asset is located in Karnes County, Texas, known by many as the core of the Eagle Ford where there is an abundance of production history. This strategic acquisition will allow SDRII to build its operating capacity and experience for future growth through operating existing producing wells and future well development within the asset.
