DALLAS–(BUSINESS WIRE)–IOG Resources II, LLC today announced that it has acquired oil and gas working interests and royalty interests in the DJ Basin from Civitas Resources, Inc. (NYSE: CIVI). The Assets include approximately 1,480 developed and undeveloped wellbores located primarily in Weld County, Colorado. Current net production is approximately 4.7 mboe/d under top-tier operators including Occidental Petroleum and Chevron Corporation. The acquisition represents the fourth investment in IOGR II and the sixteenth investment for the IOG Resources platform. Gibson, Dunn & Crutcher LLP acted as legal counsel to IOGR II.
About IOG Resources
IOG Resources, LLC and IOG Resources II, LLC are Dallas, Texas-based energy investment platforms sponsored by First Reserve. The group was established in 2017 and is focused on onshore producing non-operated oil & gas investments and structured drilling capital in North America. For more information, please visit www.iogresources.com.
About First Reserve
First Reserve is a global private equity firm focused on investing across diversified energy, utility, and general industrial end-markets. Founded in 1983, First Reserve has more than 40 years of industry insight, and has cultivated a network of global relationships. First Reserve has raised more than $34 billion of aggregate capital since inception. Its investment and operational experience have been built from over 750 transactions, including platform investments and add-on acquisitions, on six continents. The firm’s portfolio companies have operated globally in over 60 countries and span the entire energy and industrial spectrum. Please visit www.firstreserve.com for further information.