Validus Energy to acquire Anadarko basin assets of 89 Energy

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.