IOG Resources II has acquired oil and gas working interests and royalty interests in the Denver-Julesburg Basin (D-J Basin) from Civitas Resources, IOG said on May 6. Financial details of the transaction were not disclosed.
The acquisition includes interests in approximately 1,480 developed and undeveloped wellbores located primarily in Weld County, Colorado.
The assets current net production averages 4,700 boe/d under operators including Occidental Petroleum and Chevron Corp. The acquisition represents the fourth investment in IOGR II, backed by private equity firm First Reserve, and the sixteenth investment for the IOG Resources platform.
Gibson, Dunn & Crutcher LLP acted as legal counsel to IOGR II.