IOG Capital to participate in Eagle Ford, Merge, Arkoma-Woodford drilling programs

IOG Capital LP announced today three new development drilling programs located in the Eagle Ford, the Merge portion of the STACK play, and the Arkoma-Woodford, respectively. These three new projects are anticipated to require up to $130 million of gross capital. These projects will be conducted through IOG’s newly formed affiliate, IOG Resources LLC (IOGR).

IOGR’s first joint development agreement was established in July 2017 with Woodlands, Texas based Earthstone Energy Inc. IOGR and ESTE will initially partner on the development of 11 Eagle Ford wells located in Gonzales County, Texas in 2017. IOGR has the potential to participate in up to 15 additional wells in the project.

IOGR’s second joint development program closed in August 2017 with an Oklahoma City based private family operator. This new development program in the Merge calls for up to 18 wells to be funded in Canadian County, OK.

The third development program closed at the end of August 2017 with Oklahoma City based Red Mountain Energy (RME). IOGR and RME will jointly fund up to 20 wells targeting the Woodford in the Arkoma Basin.

The new investments in the Merge and Arkoma-Woodford have increased IOG and its affiliates’ total acreage position in Oklahoma to over 17,000 net acres with over 80% of the position concentrated in the STACK (Dewey, Major, Kingfisher, and Blaine Counties, Oklahoma) and the Merge (Canadian County, Oklahoma). IOG now has a diversified portfolio of assets including investments in the Permian, Eagle Ford, Bakken, Marcellus, and Arkoma-Woodford areas.

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