Acquisition CriteriaWhat We Are Looking For

All Major Oil and Gas Basins in the United States

Now active in multiple regions, we seek to both add acquisitions—and operating synergies—in our existing areas and selectively expand our geographic footprint in attractive new basins.

Producing Properties

Our core focus is on producing fields, and our acquisitions through year-end 2021 have averaged 73% of proved developed producing reserves as a percentage of proved reserves. We have a preference for properties with long-term production histories and predictable production profiles.

Field-Level Reinvestment Opportunities

We look for mature properties that offer additional drilling opportunities, reinvestment in operational improvements, or a combination of both. Through year-end 2021, we have drilled or participated in over 935 wells, and our efforts go beyond development drilling to include workovers, recompletions, refracs, and various margin improvement projects.

Diverse Assets or Multi-Property Packages

We pursue a variety of property transactions from individual assets to multi-property, multi-basin packages. Also, we opportunistically consider farm-out agreements or corporate stock transactions with private or public oil and gas companies. While we prefer to directly operate acquired properties, we will selectively acquire non-operated interests with long-term strategic benefits.

Negotiated and Marketed Opportunities

The majority of our significant acquisitions have originated from one-on-one negotiated deals and proprietary relationships. However, we are also regular participants in competitively marketed processes.