Sumitomo acquires tight oil producing asset in Eagle Ford

Summit Discovery Resources II LLC (SDRII), a subsidiary of Sumitomo Corp., has agreed to acquire certain producing Eagle Ford assets from IOG Gonzales 1835 LLC, Dallas, an entity managed by IOG Capital LP, Covington Equity Investments LLC, and 1836 Resources LLC.

SDRII becomes operator with 100% working interest.

Peak production for the asset, set across 624 acres in Karnes County, Tex., is estimated at 3,000 boe/d.