Double Eagle, Apollo To Develop In Oklahoma

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Formed a joint venture to develop oil and gas properties in the Anadarko and Ardmore basins in Oklahoma.

Apollo Global Management LLC (NYSE: APO) has formed a joint venture with Double Eagle Energy Holdings LLC to develop oil and gas properties in the Anadarko and Ardmore basins in Oklahoma.

The details of the financing and the amount of acreage under development were not revealed.

Cody Campbell, co-chief executive of Double Eagle said the partnership will enable the company to expand its operations. “We believe that the development and expansion of resource plays in Oklahoma creates great potential for Double Eagle to leverage its core competencies into opportunities to deploy capital at attractive rates of return,” he said.

Apollo is a publicly-traded investment manager based in New York with about $113 billion in global assets under management. Double Eagle is a privately-held oil and gas company based in Fort Worth, Texas with assets focused in the Midcontinent and Texas.