Sanguine Gas Exploration LLC has expanded its core in Oklahoma through an acquisition of long-life producing properties.
On June 30, the company said it purchased assets in the eastern Anadarko Basin for $45 million from undisclosed sellers.
The assets consist of more than 400 wellbores, of which 130 are operated. The purchase was made in partnership with investors including Nadel and Gussman of Tulsa, Okla., and affiliates of LeFrak Energy in Houston.
"This acquisition has been a great opportunity for the company and its partners to enlarge production and operations in the core area of the deep eastern Anadarko Basin where Sanguine began drilling upon its founding by my father in 1977," Randy Nelson, Sanguine's president, said in a statement.
"Sanguine feels it can bring significant value to this package of mature, vertical, dry gas production by applying the efficiencies of a family-owned independent," Nelson added.
Sanguine is a Tulsa, Okla.-based private company operating in Texas and Oklahoma.
Recommended Reading
Hess Joins Exxon, Equinor in Exit from Suriname’s Offshore Block 59
2025-07-09 - Hess relinquished the block to state-owned Staatsolie, following the withdrawal and transfer of participation stakes by partners Exxon Mobil and Equinor in 2024 to Hess.
Mitsubishi Power Americas CEO Talks Power, Hydrogen
2025-07-09 - As electricity demand climbs in the U.S. and abroad, the company is advancing hydrogen blending efforts to lower emissions while working to meet rising gas turbine needs.
Fermi in Talks to Build Nuclear Plants in Texas for Hyperscalers
2025-07-08 - Fermi, co-founded by a former U.S. Energy Secretary Rick Perry, is looking to build four nuclear plants that would supply power to hyperscalers.
Canada Deep Dive: Spartan Sees 1,220 boe/d Duvernay IPs
2025-07-08 - Calgary’s Spartan Delta Corp. is seeing strong oil and liquids output from new horizontals landed in the Duvernay Shale in Alberta. One new Duvernay well produced 1,470 boe/d (86% liquids) over 20 days, including 1,202 bbl/d of oil.
Governor: In Wyoming, Sky’s the Limit for Oil, Gas, Nuclear
2025-07-08 - Wyoming may be the smallest U.S. state by population, but it’s aiming for a giant role in America’s energy future. From oil and gas to nuclear, it’s all on the table, Wyoming Gov. Mark Gordon told Hart Energy in an exclusive interview.