Sanchez Production Partners LP (SPP) is shopping its assets and operations in Oklahoma and Kansas. The company cited what it sees as ongoing basin consolidation in the region as the impetus for the move.

The assets considered for sale encompass the partnership’s operations and interests in the Cherokee Basin in Oklahoma and Kansas, the Woodford Shale in the Arkoma Basin in Oklahoma, and the Central Kansas Uplift in Kansas, which covers 207,000 developed and 15,000 undeveloped acres with exclusive rights to lease and develop almost 500,000 additional acres in Osage County, OK.

They also include the partnership’s interests in 2,337 producing wells, 76% of which are operated. The wells have a net working interest of 85% and provided average net production of 3,449 boe/d in December 2014, of which approximately 24% was oil and liquids production. Based on forward prices as of December 31, 2014, the assets show proved reserves of 14.88 million boe, of which approximately 77% are developed, and probable reserves of 15.75 million boe.

“As we develop plans for the future of SPP, we look to refocus our efforts on opportunities that are more closely aligned with Sanchez Oil & Gas Corp.’s operational platform,” said Charles Ward, CFO of SPP’s general partner. “With other sales announced and under way in and around the areas where we operate our legacy assets, we see a unique opportunity to participate in a process that ultimately leads to basin consolidation.”

Earlier this month SPP said it produced 374,000 boe during the fourth quarter of 2014 for average net production of 4,063 boe/d for the quarter, which was down less than 2% from the third quarter. For the full year 2014, the company produced 1.51 million boe, an increase of nearly 11% over full year 2013 production. Net oil and liquids production for the fourth quarter, which accounted for 19% of the company’s total production during the quarter, was 759 b/d, which was down 31% from the third quarter. Net oil and liquids production for the full year 2014 was 978 b/d, which is an increase of 62% compared to full year 2013 results.

The partnership also has assets along the Gulf Coast in Texas and Louisiana. Lantana Energy Advisors, a unit of SunTrust Robinson Humphrey Inc., was hired to market the assets.