Jonah Energy LLC, a Denver-based TPG Capital affiliate, has completed the acquisition of Jonah field operations in Sublette County, Wyo., from Encana Oil & Gas Inc., a wholly owned subsidiary of Encana Corp., for $1.8 billion, effective Dec. 1, 2013.
The Jonah field acquisition, first reported on Mar. 31, encompasses a total productive area of 24,000 acres and more than 1,500 active wells in Jonah field, along with more than 100,000 undeveloped acres in the normally pressured lance area adjacent to Jonah (OGJ Online, Mar. 31, 2014).
Yearend 2013 proved reserves totaled 1.5 tcf of gas equivalent with first-quarter 2014 net production of 311 MMcfed.
This is the first acquisition by Jonah Energy, which was formed by TPG this year to acquire and operate the Jonah field operations. The company said it plans to own and operate additional producing onshore oil and gas properties in North America.
Jonah Energy is led by Tom Hart, chief executive officer, and Craig Manaugh, president and chief operating officer. The company plans to retain the employees currently working in connection with Jonah field and continue investment in the field and adjacent acreage.