Venado Oil and Gas and KKR have closed on the acquisition of the operated and non-operated Eagle Ford assets of Cabot Oil & Gas Corporation for $765 million.
Venado and KKR acquired interests, which include approximately 303 gross/203 net wells and 74,400 net acres situated primarily in the Eagle Ford oil window of South Texas (Atascosa, Frio, and LaSalle counties). During the fourth quarter of 2017, the assets produced 15,656 net barrels of oil equivalent per day (85 percent oil, 5 percent natural gas and 10 percent NGLs).
David Rockecharlie, member and head of Energy Real Assets for KKR, said they “continue to see an attractive market opportunity throughout the Eagle Ford trend and believe we are well positioned for future growth and long-term value creation through strong operational execution.”
As of the closing date, the Venado and KKR partnership will hold interests in 112,000 net acres, producing over 43,000 barrels of oil equivalent per da
