Newly formed Red Wolf Natural Resources LLC has acquired 56,000 net acres and associated production in Oklahoma’s myriad reservoirs that include the Anadarko Basin.
The Oklahoma City-based explorer, formed in 2019 with an equity commitment from Pearl Energy Investments, is acquiring land within the Merge prospect and two plays better known by their acronyms, the SCOOP, aka the South Central Oklahoma Oil Province, and the STACK, or the Sooner Trend of the Anadarko Basin, mostly in Canadian and Kingfisher counties.
The acreage is said to be contiguous with existing infrastructure and midstream agreements in place.
“We are excited to announce our re-entry into Oklahoma’s prolific SCOOP, STACK and Merge plays with the acquisition of these assets,” CEO Drew Deaton said. “Our leadership team has a successful track record in and deep knowledge of this area from our prior experience.”
Deaton and COO Jeff Dahlberg, who together helped create Red Wolf, have previously developed upstream oil and gas assets in many U.S. producing regions, most recently in the Denver-Julesburg Basin in Colorado and in the Anadarko having previously worked together at Ward Energy Partners LLC.
“This strategic acquisition represents both near-term and long-term value as well as significant growth potential for Red Wolf,” Deaton said. “We think that the SCOOP, STACK and Merge plays combine many important characteristics of top-tier hydrocarbon plays, including multiple benches of stacked pay which provide compelling economic returns and repeatable results. We look forward to leveraging our technical and operational expertise to aggressively delineate and develop these assets to their full potential.”