Vinland Energy Sells Appalachia Assets to Dara Energy in Production Expansion Deal
(P&GJ) — Dara Energy, a production focused company, announced it has closed an agreement to acquire oil and gas assets in Kentucky, Tennessee, and Texas from Vinland Energy.
The assets consist of low decline, long-lived producing wells, and their corresponding midstream infrastructure. According to Dara CEO, Patrick Conway, the deal is poised to deliver strong risk-adjusted returns for Dara’s investors.
The acquisition positions Dara to continue to grow its portfolio of producing oil and gas assets with associated midstream infrastructure. The company’s goal is to offer superior risk adjusted returns to investors through disciplined underwriting, efficient operations, and active risk management.
“We are excited to deploy capital in what we believe to be institutionally underserved asset class: producing energy assets,” Conway said. “Dara Energy is committed to best-in-class operations relying on knowledgeable management and data driven decision making. With a strategic focus on optimizing mature, producing assets, our team is dedicated to the success of all stakeholders from our investors to local communities.”
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