Monday, April 9, 2012

KKR Natural Resources acquires assets from WPX Energy for $306 million

KKR Natural Resources spent $306 million to acquire assets in the Arkoma Basin and Barnett Shale from WPX Energy. The properties include 320 wells and 91 miles of pipeline in eastern Oklahoma and North Central Texas, and 525 wells and 115 miles of pipeline in the Arkoma. "We see attractive opportunities to invest behind the development of domestic energy resources and remain excited about the opportunity to grow our natural resources platform by continuing to acquire non-core oil and gas properties from high quality operators," KKR Natural Resources chief Jonathan Smidt said in a statement.

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