[Editor's note: This story was updated at 8:30 a.m. CT May 9.]

Carbon Natural Gas Co. acquired producing assets in California's Ventura Basin as well as bought out the remaining interest in its Appalachian-focused subsidiary in separate transactions totaling $100 million.

The Denver-based company said May 2 that its affiliate Carbon California Co. LLC completed the acquisition of properties and related facilities in the Ventura Basin from Seneca Resources Corp. for $43 million.

On May 4, Carbon Natural said in regulatory filings it had agreed to buy the remaining 73.5% outstanding Class A units of Carbon Appalachian Co. LLC from private equity firm Old Ironsides Energy for $57 million cash.

Carbon Natural formed Carbon Appalachia and Carbon California in 2016 to acquire oil and gas producing properties in southern Appalachia and California’s Ventura Basin.

As of year-end 2017, Carbon Appalachian held about 335 billion cubic feet equivalent of proved developed producing reserves in the Appalachian Basin and Carbon California had completed acquisitions comprising about 13 million barrels of oil equivalent, according to the company's website

The company said its latest acquisition in the Golden State increases the volume of light oil production and proved reserves of Carbon California and provides for additional cash flow from Carbon’s Ventura Basin operating region.

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Current net production from the acquired Ventura assets is roughly 920 barrels of oil equivalent per day (79% oil and liquids). The company estimates the properties contain 17.6 million barrels of proved reserves (77% oil and liquids).

The acquired properties also include an inventory of proved developed non-producing and proved undeveloped growth opportunities on which the company said it will commence a development plan.

Carbon holds a 54% ownership interest in membership units of Carbon California. Carbon is manager of Carbon California and a portion of the company’s general and administrative expenses is allocated to and paid by Carbon California.

Following the closing of the transaction with Old Ironsides, which is expected by September, Carbon Natural will own 100% of the issued and outstanding ownership interests in Carbon Appalachia and will become a wholly-owned subsidiary of Carbon.

Financing for the Ventura transaction was provided by the company and an institutional investor, each of which purchased $5 million of Class A units of Carbon California for an aggregate cash consideration of $10 million.

Carbon California also entered into an amendment to its existing senior secured note credit facility to increase its borrowing base to $41 million from $15 million and sold $3 million senior subordinated notes due 2024.

Emily Patsy can be reached at epatsy@hartenergy.com.