Presidio Investment Holdings this week announced it’s completed the acquisition of all oil- and natural gas-producing properties in the western Anadarko Basin of Texas, Oklahoma, and Kansas from Apache Corp. and its affiliates.
No purchase price was revealed, Kallanish Energy reports.
Presidio Petroleum is a portfolio company majority owned by investment funds managed by Morgan Stanley Energy Partners (Msep), the energy private equity business of Morgan Stanley Investment Management.
This transaction represents the first add-on acquisition for the company since Msep’s initial investment in May 2018, when it acquired Midstates Petroleum’s Anadarko Basin assets for $58 million.
“We are thrilled to add Apache’s high-quality western Anadarko Basin assets to our portfolio … ,” said Chris Hammack, co-founder and co-CEO of Presidio.
“The industrial logic of combining Apache’s western Anadarko Basin properties with our existing operating footprint in the Basin is tremendously compelling,” according to Will Ulrich, co-founder and co-CEO of Presidio.
This post appeared first on Kallanish Energy News.