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

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.