FourPoint Energy closes Anadarko basin deal
FourPoint Energy LLC, Denver, has closed its $385-million acquisition of all of Chesapeake Energy Corp.’s oil and gas properties in the western Anadarko basin.
The privately held company hired more than 90 former Chesapeake employees to join its field staff of 42 and took over Chesapeake offices in Elk City, Okla., and Borger and Shamrock, Tex. It had an existing field office in Woodward, Okla.
The acquisition covers 3,500 producing wells on 473,000 net acres spanning 15 counties in western Oklahoma and the Texas Panhandle.
FourPoint Energy was formed by leaders of Cordillera Energy Partners, an Anadarko basin producer that Apache bought in 2012 for $2.85 billion in cash and stock (OGJ Online, Jan. 23, 2012).