Validus Energy, Denver, an Elliott Investment Management portfolio company, has agreed to acquire the Anadarko basin business of 89 Energy, Oklahoma City, in a transaction valued at $850 million.
Privately held 89 Energy III is the combination of three Kayne Anderson portfolio companies – Casillas Petroleum Resource Partners, Native Exploration, and Acacia Exploration. The consolidation of the companies into 89 Energy III created an Mid-Continent company focused in the SCOOP, according to the company website.
The deal would add about 25,000 boe/d of production (30% oil, 60% liquids) from about 65,000 net acres (>80% operated) in the Oklahoma SCOOP area to the Validus portfolio according to statistics from 89 Energy’s website.
