Warburg’s Citizen Energy Expands in Oklahoma with $153 Million Bolt-on

Warburg Pincus-backed Citizen Energy agreed to acquire from an undisclosed seller 28,000 net acres described as a “gas-rich, bolt-on acquisition” to the company’s existing Anadarko Basin footprint.

Warburg’s Citizen Energy Expands in Oklahoma with $153 Million Bolt-on

Pro forma for the acquisition announced Oct. 11, Citizen Energy will have net daily production of about 74,000 boe/d, interests in over 1,700 wells and more than 230,000 net acres across the Midcontinent region. (Source: Hart Energy; Image of Tulsa Oklahoma Golden Driller statue by Vineyard Perspective / Shutterstock.com)

Citizen Energy LLC recently landed a gas-rich, bolt-on acquisition that analysts with Enverus say will boots the company’s production largely within its existing Anadarko Basin footprint by 12%.

As part of the acquisition, Citizen entered into a definitive purchase and sale agreement with an undisclosed seller to acquire 28,000 net acres (94% HBP) for $153 million. According to a company release on Oct. 11, the acquired acreage located primarily in Oklahoma’s Blaine, Canadian and Kingfisher counties lies largely within Citizen’s existing footprint.

“The contiguous nature of the acquisition provides an ideal opportunity for infrastructure connectivity and development continuity,” Citizen Energy said in the company release.

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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.