One of the biggest US investors in oil and natural gas wells is buying $450 million worth of assets in the Texas Eagle Ford shale basin from a renowned energy family in Dallas.
Warwick Investment Group LLC, which owns stakes in more than 5,000 oil and gas wells, has agreed to buy producing oil and gas wells in the South Texas shale patch from Dallas-based Rosewood Resources Inc, part of the famed Hunt family.
Part of the financial commitment includes future development, which Warwick said would target natural gas and natural gas liquids.
“Rosewood grows Warwick’s exposure to world-class, geologically diversified and de-risked reservoirs,” said Kate Richard, chief executive officer of Warwick. The investment firm, which has more than $2 billion in managed assets, said it has Eagle Ford property immediately next to the Rosewood acreage.
The US shale patch has seen a divergence this year as closely held explorers boost drilling more than their public rivals in hopes of getting bought out.
Another oil company within the extended Hunt family sold its Permian Basin business in April to the Vitol Group. This latest deal comes half a year after Warwick closed on its fourth energy fund.
For more information visit www.warwickinvestmentgroup.com
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