Foothills Exploration Inc. closed a deal to acquire a string of natural gas and oil wells in the Midcontinent region in a bid to capitalize on the enduring strength of demand for fossil fuels.

Natural gas prices

The Los Angeles-based exploration and production (E&P) company said Monday it acquired 21 shallow oil and gas wells, all located in Comanche County, OK.

The stripper wells, situated across four leases, have an average depth of 1,200 feet and primarily produce from the Granite Wash formation, the company said. Foothills did not disclose financial details.

The company said its return-to-production program on the properties, slated to begin this week, will consist of cleaning out existing wellbores, facility maintenance, electrical work and flowline repairs. All the wells are expected to...