IOG Resources II is acquiring non-operated Utica shale working interests in eastern Ohio. (Pictured): A natural gas well pad near Moundsville, West Virginia. (Source: Shutterstock.com)
IOG Resources II acquired non-operated working interests in Appalachia’s Utica shale, the company said Feb. 26.
The acquisition from an undisclosed seller includes 175 developed wellbores and 4,500 net acres in eastern Ohio. Net production currently averages about 26 MMcfe/d.
Operators on the acquired assets include Antero Resources, Encino Energy, EOG Resources, EQT Corp., Expand Energy and Gulfport Energy.
The deal represents the fifth acquisition made by IOG Resources II, which was raised in 2022. The IOG energy investment platform has been sponsored by private equity firm First Reserve since 2017.
Financial terms of the Utica acquisition were not disclosed.
Last year, Civitas Resources sold Denver-Julesburg (D-J) Basin assets to IOG Resources II for an undisclosed amount. The assets included 1,480 developed and undeveloped wellbores, primarily in Weld County, Colorado. Production averaged 4,700 boe/d.
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