Rimrock Resource Partners LLC closed a $150 million acquisition of Scoop assets in the Midcontinent—a region bubbling with A&D activity despite the downturn, the company said July 28.

The acquisition covers about 24,500 net leasehold acres, 100% HBP, in Oklahoma’s Scoop Play. The acreage is located mainly in the Golden Trend, which is primarily in Garvin, McClain and Grady counties, Okla., in the Anadarko Basin. The seller was not disclosed.

The acquired assets also include production of about 2,100 barrels of oil equivalent per day and 3,100 net mineral acres. The Midcontinent saw six deals of at least $100 million in second-quarter 2016.

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Rimrock is a Tulsa, Okla.-based E&P formed in 2015, following a funding commitment from its management team, Post Oak Energy Capital and Ceja Corp. The total initial equity commitment was $75 million, with Post Oak providing the majority of the capital, according to Rimrock’s website.

At that time, the company owned about 2,400 net leasehold acres in the Midcontinent.

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Including the company's recent acquisition, Rimrock will own more than 30,500 acres prospective for the Woodford, Springer and Sycamore formations across 150 mostly contiguous sections, said CEO Burt Williams. Williams is the former CEO and founder of White Stone Energy.

The company’s management team includes other seasoned industry veterans, such as President and COO Mike Evans. According to the company’s website, Evans has more than 30 years of experience in the industry, specializing in Oklahoma and the Permian Basin.

Rimrock's focus is on exploration, acquisition and development opportunities primarily in the Midcontinent region with an initial target on the Woodford Shale.

Since October 2015, the company had grown its position to more than 6,000 net acres in the Midcon and was looking to add more, Williams said.

"Rimrock has evaluated several acquisition opportunities in the Scoop Play, but our patience and disciplined technical approach to investing has provided Rimrock with a strategic position on the eastern, more liquid-rich area of the Scoop," he said in a statement.

Post Oak and Ceja have subsequently increased their funding commitment to Rimrock, according to a press release. Post Oak is a energy-focused private-equity firm based in Houston. Ceja is a privately owned E&P headquartered in Tulsa.

Emily Moser can be reached at emoser@hartenergy.com.