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United Energy takes full ownership of oil and natural-gas properties in Oklahoma, Cherokee Basin
Transactions - OCTOBER 27, 2021

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United Energy takes full ownership of oil and natural-gas properties in Oklahoma, Cherokee Basin

by Kali Persall

United Energy has agreed to acquire the remaining 51 percent of properties located in four Oklahoma counties and Kanada’s Cherokee Basin, as part of a plan to strengthen its oil and natural-gas foothold in the region.

Earlier in October, the company acquired 49 percent nonoperated ownership in 200,000 acres of oil and natural-gas leasehold in Northeastern Oklahoma and Southeastern Kansas, including 2,200 wells and 1,000 miles of natural-gas pipelines and gathering systems.

The majority of these assets were purchased by Constellation Energy Partners from Newfield Exploration Company for $128 million in 2007.

This latest acquisition gives United Energy 100 percent control of its operations and is a key essential step in the company’s developmental plans and growth in shareholder value, according to Brian Guinn, CEO of United Energy.

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