KKR Natural Resources has acquired certain Barnett Shale properties in north central Texas from US based energy firm ConocoPhillips.

The properties contain about 93bcfe of total net proved reserves of which over 90% are proved developed producing (PDP).

KKR Natural Resources is a partnership between Kohlberg Kravis Roberts & Co (KKR) and Premier Natural Resources, and was formed to pursue investments in North American oil and gas properties.

Following the $40m acquisition of oil and gas assets in southeast Texas in November, the transaction is the second investment made by the company.

Premier Natural Resources currently operates a portfolio of assets located in the Texas Gulf Coast and Permian Basin.