Indigo Minerals LLC Announces Planned Acquisition of Interests in 60 Producing Fields, 40,000 Undeveloped Acres and Certain Midstream Assets Located in the Ark-La-Tex from Chesapeake Energy Corporation for $218 Million
The properties were producing approximately 26 net Mmcfe/day as of the effective date. Indigo will be taking over operations in 219 Chesapeake wells and will gain a working interest in another 300 non-operated wells in the region. The operated properties represent about 85% of the transaction value and Indigo plans to drill hundreds of development wells in the future within existing well units and on the largely contiguous 40,000 net undeveloped acres also being acquired.
This Indigo acquisition follows a successful divestment phase for the company in 2008/early 2009. Previous divestments involving various Haynesville Shale mineral and leasehold positions have netted Indigo approximately
In addition to its minerals, pro forma the Chesapeake acquisition Indigo will own greater than 150,000 net leasehold acres in
The combination of its existing working interest assets, large mineral position and the producing properties and leasehold to be acquired from Chesapeake will make Indigo one of the largest private E&P companies in the onshore Gulf Coast Region. Pro forma net production will approach 40 Mmcfe/day and total proved reserves will exceed 220 Bcfe.
Indigo was formed in late 2006 as a venture between Yorktown Partners, the Martin Companies, Bank of America Capital Investors and Indigo Management. Further information regarding Indigo Minerals LLC may be obtained by visiting its website at www.indigominerals.com.
SOURCE Indigo Minerals LLC