Casillas Petroleum Resource Partners LLC, a partnership between Casillas Petroleum Corp. and Kayne Anderson Energy Funds, closed on the purchase of certain oil and gas assets owned by Continental Resources Inc. in the SCOOP play in Oklahoma for an adjusted purchase price of $294 million. The assets include net production of 550 barrels of oil equivalent per day and approximately 30,000 net acres (90% HBP) in Garvin, Grady, and McClain counties.
Greg Casillas, President and CEO of Casillas, said, “This bolt-on acquisition is an excellent strategic fit for Casillas as we continue to build a highly contiguous, HBP and operated position in the SCOOP. Casillas’ footprint has grown to over 42,000 net acres, yielding immediate development potential in the Woodford and Springer shales with tremendous upside in multiple horizons that have produced vertically in the area for decades.”
Headquartered in Tulsa, Oklahoma, Casillas is a private exploration and production company committed to the further development of onshore domestic oil and gas reserves through exploration and development of drilling projects as well as acquisitions of existing producing assets within the Mid-Continent region. Casillas Petroleum Corp. has been engaged in the oil and gas industry since 1986.