Presidio Petroleum continued its expansion in the Anadarko Basin with the acquisition on Aug. 6 of Templar Energy LLC’s assets through a bankruptcy auction.

Templar Energy, backed by Ares Management LLC, had about 273,000 net acres located within the western Anadarko Basin of the Midcontinent region. The company’s acreage spans Texas and Oklahoma, including into the STACK play of central Oklahoma.

Facing about $426 million outstanding debt, Templar filed for Chapter 11 bankruptcy on June 1 seeking the sale of its assets through a 363 sale. The company had previously completed a comprehensive restructuring in 2016. 

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