(Source: Allied Resource Partners)
Denver’s Allied Resource Partners said it has purchased 5 square miles, or 3,200 acres, in Grove County, Kansas, to expand its operational footprint in the Midcontinent region.
Allied said it intends to drill eight wells in the area, beginning at the end of 2024 through next year.
"These 8 initial wells could be the start of developing a field that will produce multiple millions of barrels of oil," Rich Tabaka, president of Allied Resource Partners, said in an Aug. 22 press release.
The company said that in July it had conducted a 3D seismic survey across the newly acquired acreage. Survey data is being processed by Allied’s team of geophysicists and the company is reviewing the preliminary findings.
"Now that we have shot the seismic, we are eagerly awaiting the data. Based on our adjoining acreage, we believe a significant oil trap will be identified,” Tabaka said. “All indications from the last 3D seismic shoot suggest that the structure continues into this new acreage. We moved quickly to secure these leases, especially after identifying an oil structure adjacent to it."
Allied said it is committed to advancing its exploration efforts in Kansas and will continue to review and refine its approach as new data becomes available.
Recommended Reading
US Energy M&A Shifts Gassier into Appalachia, Midcon as Oil Slips
2025-05-12 - U.S. upstream M&A activity reached $2.3 billion in April, defying a sharp 12% collapse in oil prices. Natural gas-driven deals led the way, including EQT’s $1.8 billion Olympus Energy acquisition.
Permian Resources Buys Apache's Northern Delaware Assets for $608MM
2025-05-07 - Permian Resources is expanding its New Mexico footprint with an acquisition of Permian Basin assets from APA Corp. for $608 million.
NOG Closes $62MM Midland Basin Bolt-On Deal
2025-04-29 - Non-op Northern Oil and Gas (NOG) expanded its Midland Basin footprint with an acreage purchase in Upton County, Texas, from a private operator.
Data Suggest BPX Worth at Least $10B in BP Merger Carve-Out
2025-05-28 - The business unit’s all-shale holdings’ “attractiveness” to potential BP Plc suitors “would likely be an important input into any portfolio evaluation and [merger] due diligence process,” said J.P. Morgan Securities analyst Matthew Lofting.
Undrilled but not Unnoticed: White Space Buyers Invest Now for Future Upside
2025-04-18 - Undeveloped, unpermitted acreage lures private equity risk-takers who want in on the mineral and royalty coffers.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.