IOG Capital LP has closed three separate development capital commitments that total $185 million in the last 60 days.
IOG’s joint development agreement with a privately held Oklahoma City, Oklahoma-based operator will provide the firm with its first entry into an area of the Anadarko Basin. IOG’s $60 million commitment will fund the development of wells over the next two years.
Additionally, IOG is working with a private working interest owner to provide funding for well proposals from various operators to develop wells in the core of the Bakken and Three Forks shale plays. IOG will fund up to $25 million over the next 12 months.
IOG completed these two transactions in addition to the $100 million Eagle Ford joint development agreement IOG Capital closed on July 27, with Lonestar Resources Ltd. (OTCQX: LNREF, ASX: LNR). Under the agreement with Lonestar, IOG will provide capital for strategic development opportunities in the Eagle Ford shale play.