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Benchmark Energy Closes the Acquisition of the Oil and Gas Assets of SK Nemaha and SK Plymouth and the Establishment of a Note Purchase Agreement With Cibolo Energy Partners
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AUSTIN, Texas, March 9, 2021 /PRNewswire/
Benchmark Energy, LLC ( Benchmark or the Company ) announced today that the Company has completed the acquisition of all the oil and gas assets, including approximately 77,000 net acres located in the STACK play within Grant, Garfield and Kingfisher counties of Oklahoma (the Properties ), from SK Nemaha, LLC and SK Plymouth, LLC (collectively SK ).
The acquired SK assets produced approximately 3,600 net barrels of oil equivalent per day in January 2021, which consisted of approximately 60% oil and NGLs. The acreage is 98% held-by-production. Approximately 87% of the wells will be operated by Benchmark in mature fields with strong cash flow as well as significant development potential from PDNP and PUD opportunities. The Prop