Privately held Citizen Energy, Tulsa, Okla. gained midcontinent oil and gas properties through a now-closed deal to acquire substantially all the oil and gas properties of Red Bluff Resources and its partner company Bricktown Energy, Citizen said in a release June 29.
The two private sellers are based in Oklahoma City and together hold around 80,000 net acres of land in the Anadarko basin of Oklahoma. The deal increases Citizen’s daily production by 18% and includes an additional 13,000 boe/d (56% liquids), 200 operated wells, and 739 non-operated wells.
Pro forma for the acquisition, Citizen assets will consist of about 86,000 boe/d, over 720 operated wells, and about 326,000 net acres (98% held by production).
Citizen Energy primarily targets the Meramec and Woodford shale formations in Oklahoma. In addition to its upstream properties, the company operates about 213 miles of natural gas gathering pipelines, 225 MMcfd of gas processing capacity, and about 103 miles of water gathering pipelines.
