Hungry Like a Wolf
When Okla. City-based Red Wolf Natural Resources went hunting for top-tier acreage positions in the Anadarko Basin, the E&P start-up landed a pretty meaty find. Reese Energy Consulting today is studying news from Red Wolf which announced earlier this week the company’s first acquisition in its young history. Formed in February, Red Wolf captured 56,000 contiguous net acres with proven well results in primary target zones in the prolific SCOOP, STACK and Merge plays. Other highlights of the deal include existing infrastructure and agreements with midstream operators in the region. Co-founders Drew Deaton and Jeff Dahlberg previously served in leadership roles at Okla. City-based Ward Energy, where they focused on developing the company’s upstream and midstream assets in the SCOOP, STACK and DJ Basin. Their new venture marks a re-entry into the Anadarko with an impressive track record of success there and aggressive plans for growth. Once upon a time, red wolves roamed the hills and prairies of Oklahoma and unproven sightings continue to this day. But this is one Red Wolf that’s claimed some prime territory, and by all accounts looks hungry to stick around.