Kohlberg Kravis Roberts & Co. LP (KKR) agreed to acquire certain Barnett shale and Arkoma basin assets from WPX Energy for $306 million.
The transaction, expected to close during the second quarter, is being made through KKR Natural Resources, KKR’s partnership with Premier Natural Resources (PNR) to pursue investments in North American oil and gas properties. The transaction is KKR Natural Resources’ third acquisition in the Barnett shale.
The Barnett shale properties currently produce 67 MMcfd net.
KKR has invested in energy sector for more than 20 years. PNR was formed out of the acquisition and exploitation business plan implemented by Vintage Petroleum Inc.