Learn more about Hart Energy Conferences
Get our latest conference schedules, updates and insights straight to your inbox.
Two weeks after a $525 million deal by Houston’s Rockcliff Energy LLC to buy East Texas and North Louisiana assets from Samson Resources II LLC, Rockcliff is adding a sizeable piece of real estate in the Haynesville.
Rockcliff said Aug. 14 that it will buy 60,000 net acres of Haynesville Shale rights, which—with the Samson deal—will increase the size of its position by one-third.
The acreage seller’s name and terms of the transaction were not disclosed. The properties, which are substantially all HBP, are located primarily in Harrison and Panola counties, Texas, Rockcliff said.
A Rockcliff affiliate also has a pending deal with Samson Resources that includes 210,000 net acres targeting the Haynesville, Mid-Bossier and Cotton Valley fairways.
“Combined with our previously announced Samson acquisition, Rockcliff will have assembled a large, strategic position of approximately 180,000 net acres in the Haynesville Shale play,” Alan Smith, Rockcliff’s president and CEO, said in a press release.
“We intend to apply the latest technology alongside our team’s deep Haynesville experience to successfully develop this premier acreage position. And in addition to the acreage’s favorable technical merits, we have the added commercial benefit of being located in close proximity to major natural gas markets,” Smith said.
The Samson acquisition in the ArkLaTex region is expected to close on Sept. 29 with an effective date of Aug. 1. Rockcliff has significant expertise in the ArkLaTex region to establish itself as a “major player” there, Smith has said.
Rockcliff’s Samson acquisition includes average production of about 90 million cubic feet equivalent per day net to the company’s interest. As of March, the acreage was 95% HBP.
In both deals, the land positions are strategically positioned to supply gas in a favorable natural gas market, according to the company.
Rockcliff is a privately-held oil and gas company focused on the acquisition, development and exploitation of unconventional and conventional assets. The company also operates in the Delaware Basin and San Andres play. In New Mexico, it has 60 producing wells, according to New Mexico State Oil Conservation Division records.
The company is backed by Quantum Energy Partners, a leading private equity firm focused on the oil and gas industry as well as several institutions, foundations and endowments.
Darren Barbee can be reached at dbarbee@hartenergy.com.
Recommended Reading
Help Wanted (Badly): Attracting Workers to Energy is Becoming Difficult
2024-03-27 - Attracting workers to the energy industry is becoming a difficult job, despite forecasted growth in the industry.
Stena Evolution Upgrade Planned for Sparta Ops
2024-03-27 - The seventh-gen drillship will be upgraded with a 20,000-psi equipment package starting in 2026.
Petrobras to Step Up Exploration with $7.5B in Capex, CEO Says
2024-03-26 - Petrobras CEO Jean Paul Prates said the company is considering exploration opportunities from the Equatorial margin of South America to West Africa.
E&P Highlights: March 25, 2024
2024-03-25 - Here’s a roundup of the latest E&P headlines, including a FEED planned for Venus and new contract awards.
TotalEnergies Restarts Gas Production at Tyra Hub in Danish North Sea
2024-03-22 - TotalEnergies said the Tyra hub will produce 5.7 MMcm of gas and 22,000 bbl/d of condensate.