The purchase included eight non-operated oil and gas properties in the Gulf of Mexico. Financing was provided to Tammany Oil & Gas by NGP Capital Resources Company.
Erich Kraus, president of Tammany Oil & Gas, said: This quality acquisition will diversify our current holdings and expand our offshore presence. We will continue our expansion and search for quality projects to add to our reserve base. In addition to proven reserves, these properties hold numerous upside opportunities.
