Fundare Resources acquires Green River Basin asset

Fundare Resources Co. LLC, Denver, closed an acquisition of oil and gas assets in the Green River Basin of Wyoming from HRM Resources III LLC.

Privately held Fundare will hold the new assets under an entity called Rangeview Resources Co. LLC, and will take over operations beginning Aug. 1, the company said in a release July 12.

The Green River assets Include 91,700 net acres (88% operated), 191 operated and 153 non-operated wells producing about 25 MMcfed, and permitted drilling inventory, the company said.

The acquisition was funded through equity provided by WDC Energy LLC, management, and a group of friends and family investors. Rangeview also entered into a note purchase agreement with Cibolo Energy Partners LLC to provide debt capital used to fund a portion of the acquisition.

HRM Resources III LLC is backed by Kayne Anderson Capital Advisors.

Companies under Fundare’s management include Fundare Redtail, Rangeview Green River, and Moonrise Midstream (OGJ Online, Sept. 28, 2021).