DALLAS–(BUSINESS WIRE)–Dallas, Texas based IOG Capital, LP (“IOG”) affiliate, IOG STACK Opportunities, LLC (“IOG STACK”), today announced the sale of its acreage and production located in Woodward County, Oklahoma to a publicly traded exploration and production company. IOG STACK recently acquired the position in June 2016, as part of a joint development program with Red Mountain Energy, LLC (“Red Mountain”) of Oklahoma City, Oklahoma.
This sale represents a small portion of IOG’s interest in the STACK. Through IOG STACK and other affiliates, IOG’s assets span five counties in Northwestern Oklahoma including Blaine, Custer, Dewey, Kingfisher, and Major.
IOG’s Founder and Senior Managing Director Marc Rowland stated, “This represents the first exit for IOG’s portfolio, and demonstrates the value creation of IOG’s joint development structure for both our operator partners and our investors.”
Red Mountain CEO, Tony Say commented, “IOG was instrumental in the development of our Woodward County STACK assets. The IOG team created value for Red Mountain not only as a financial partner, but also with technical assistance while developing this very successful project. We look forward to working with the IOG team on other ideas and projects in the future.”
As of February 2017, IOG manages equity commitments in excess of $633mm across eight development projects. IOG affiliates have participated in over 260 oil and gas wells located across four states in partnership with 20 leading public and private oil and gas operators. This investment spans multiple plays including the Midland Basin, STACK, South Texas (Eagle Ford and Austin Chalk), Arkoma Woodford, North Dakota Bakken, and Pennsylvania Marcellus, making IOG one of the most active joint development partners in the United States.
About IOG Capital, LP
Founded in 2014, IOG Capital, LP is a Dallas, Texas based energy investment firm that manages oil and gas assets. The Firm seeks to invest in upstream oil and gas development projects located onshore in the United States through joint development, and traditional joint operating agreements. Additional information about IOG Capital is available at www.iogcapital.com.
About Red Mountain Energy, LLC
Through the leadership of Tony Say, Red Mountain Energy, LLC was formed on April 1st, 2013 with the goal of generating projects in the Mid-Continent region that have the potential for high rates of return with low to moderate risk. Exploration efforts focus on liquid rich targets with associated natural gas, achieved through horizontal drilling. The personnel involved in the creation and management of Red Mountain Energy, LLC have over 100 years of combined experience in the oil and gas industry.