Warwick Investment Group has entered into an agreement to acquire oil and gas assets operating in Eagle Ford Shale in Texas from Rosewood Resources.
The combined purchase price and expected development capital represent an additional commitment of approximately US $ 450 million to Eagle Ford for Warwick.
Future development of the Rosewood asset by Warwick will focus on natural gas and natural gas liquids to provide fuel for energy use and feedstock for chemicals and plastics.
“This asset fits well with Warwick’s investment criteria targeting current production, future drilling stocks and diversified raw material flows. We believe this acquisition represents a strong risk-adjusted return on investment for our investors and we welcome this asset to the Warwick portfolio, ”said Ian Rainbolt, Co-CIO of Warwick Investment Group.
“Rosewood increases Warwick’s exposure to world-class, geologically diverse and safe reservoirs. We commend the Rosewood team for their work on this asset and look forward to increasing Warwick’s exposure to Eagle Ford. said Kate Richard, CEO of Warwick Investment Group.
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Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/17092021/warwick-investment-group-acquires-rosewoods-eagle-ford-assets/