KKR (KKR) Acquires $306M Stake in Barnett Shale and Arkoma Basin Properties from WPX (WPX)

Kohlberg Kravis Roberts & Co. L.P. (NYSE: KKR) has entered into a definitive agreement to acquire certain Barnett Shale and Arkoma Basin properties (the "Assets") from WPX Energy (NYSE: WPX) for $306 million. The transaction, which is expected to close in the second quarter, is being made through KKR Natural Resources (“KNR”), KKR’s partnership with Premier Natural Resources (“Premier”) to pursue investments in North American oil and gas properties, and is KNR’s third acquisition in the Barnett Shale.

The Assets are comprised of 27,000 net acres in North Central Texas and Eastern Oklahoma and 66,000 net acres in the Arkoma. The Barnett shale properties have a current net production of approximately 67 million cubic feet per day.

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