Evolution Petroleum Closes $26 Million Acquisition of Natgas Assets in Wyoming’s Jonah Field

The Jonah Field transaction in Wyoming marked Evolution Petroleum’s second acquisition within the Rockies region so far in 2022.

Hart Energy Staff

Evolution Petroleum closed its acquisition of assets in Wyoming’s Jonah Field from privately-owned Exaro Energy III LLC for a net purchase price of $26.2 million, the Houston-based company said April 4.

“We are pleased to successfully close on another accretive transaction—the acquisition of nonoperated natural gas assets in the prolific and long-life Jonah Field in Wyoming,” Jason Brown, president and CEO of Evolution Petroleum, commented in a company release.

The Jonah Field acquisition will increase pro forma net daily production by 37% to roughly 8,000 boe/d and add about 38 Bcfe of natural gas of long-life PDP reserves to Evolution Petroleum’s portfolio.

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