IOG hikes Texas, Oklahoma play funding

IOG Capital LP said that since May 1 it has committed to fund more than $260 million in the acquisition and development of oil and gas properties in partnership with operators in the Permian basin, STACK, Austin Chalk, and Eagle Ford plays of Texas and Oklahoma.

It already had projects in the Bakken and Marcellus shale plays and earlier positions in the Eagle Ford and STACK regions (OGJ Online, Dec. 3, 2015).

The privately held investment firm, based in Dallas, has interests in more than 180 wells in programs currently using eight rigs.

The programs represent investments exceeding $1 billion, of which IOG expects to fund more than $700 million.

IOG Capital was founded in 2014 by Senior Managing Director Marc Rowland, former executive vice-president and chief financial officer of Chesapeake Energy Corp.

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