Kentucky-based producer Dara Energy closed the acquisition of oil and gas assets in Kentucky, Tennessee and Texas from Vinland Energy, the company said in a May 6 press release.

The assets consist of low-decline, long-lived producing wells and related midstream infrastructure. The deal is poised to deliver strong risk-adjusted returns for Dara’s investors, Dara CEO Patrick Conway said in the release.

The acquisition positions Dara to continue to grow its portfolio of producing oil, gas and associated midstream assets.

Conway said Dara Energy is deploying capital in an underserved asset class: producing energy assets.

“Dara Energy is committed to best-in-class operations relying on knowledgeable management and data-driven decision making,” Conway said. “With a strategic focus on optimizing mature, producing assets, our team is dedicated to the success of all stakeholders from our investors to local communities.”