Constellation Energy Partners has acquired non-operated oil properties in northern Kansas and southern Nebraska from a private seller for a purchase price of approximately $5.9m.
The properties currently produce approximately 126 barrels of oil equivalent per day from 36 wells.
Proved reserves are estimated to be 170,000 barrels of oil equivalent, of which approximately 81% are classified as proved developed producing.
Constellation Energy Partners president and CEO Stephen Brunner said that this transaction expands the company’s Mid-Continent asset base while at the same time adding oil to its production mix.
Constellation Energy Partners is a limited liability company focused on the acquisition, development and production of oil and natural gas properties, as well as related midstream assets.