DALLAS, TEXAS: IOG Resources II LLC (IOGR II) has acquired producing gas assets in Appalachia operated by Seneca Resources, an affiliate of National Fuel Gas (NYSE: NFG).
The producing gas assets consist of non-operated wellbores primarily located in Clearfield, Elk and McKean counties, Pennsylvania with present net manufacturing of roughly 17 mmcfd. The acquisition represents the preliminary funding for IOGR II, the successor platform to IOG Resources, LLC.
Following the transaction, the IOG Resources platform includes thirteen discrete investments throughout 6 core basins within the US. Kirkland & Ellis LLP acted as authorized counsel for IOGR II.
IOG Resources LLC and IOG Resources II LLC are Dallas, Texas-based energy funding platforms sponsored by First Reserve. The group was established in 2017 and is focused on onshore producing non-operated oil & gas investments and structured drilling capital in North America. www.iogresources.com
First Reserve is a private fairness agency exclusively focused on investing throughout diversified energy, infrastructure, and general industrial end-markets. Founded in 1983, First Reserve has 39 years of industry insight, and has cultivated a community of global relationships.
First Reserve has raised greater than $32 billion of aggregate capital since inception. Its funding and operational expertise have been constructed from over 725 transactions, together with platform investments and add-on acquisitions, on six continents.