KKR to acquire Barnett shale, Arkoma basin assets

April 2, 2012

Kohlberg Kravis Roberts & Co. LP (KKR) agreed to acquire certain Barnett shale and Arkoma basin assets from WPX Energy for $306 million.

Paula Dittrick

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.

About the Author

Paula Dittrick | Senior Staff Writer

Paula Dittrick has covered oil and gas from Houston for more than 20 years. Starting in May 2007, she developed a health, safety, and environment beat for Oil & Gas Journal. Dittrick is familiar with the industry’s financial aspects. She also monitors issues associated with carbon sequestration and renewable energy.

Dittrick joined OGJ in February 2001. Previously, she worked for Dow Jones and United Press International. She began writing about oil and gas as UPI’s West Texas bureau chief during the 1980s. She earned a Bachelor’s of Science degree in journalism from the University of Nebraska in 1974.