Multi-state Property Acquisition Completed in 1st Quarter of 2013

Posted by Mary-Margaret

In January 2013, Foundation Energy, on behalf of its Fund IV, completed the acquisition of certain operated oil and gas properties in southeastern Oklahoma, southern Arkansas, northern Louisiana, and north central Texas.  The properties include interests in over 170 producing wells with current daily production averaging approximately 1,000 Mcfd.  The properties included in the acquisition totaled approximately 158 Mbbls and 3.7 Bcf of net proven reserves (4.7 Bcfe).  The acquisition provides an entry into the North Louisiana Salt Basin and further adds to Foundation’s operations in the Arkoma Basin and Eastern Shelf of Texas.

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    Foundation Energy Management, LLC (Foundation Energy) is a manager of energy investments for institutional partners. The company acquires, develops and enhances domestic oil and gas properties and associated midstream assets. Foundation Energy currently operates oil and gas properties in twelve states.

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