(WO) — IOG Resources II, LLC (IOGR II) has announced the acquisition of producing non-operated natural gas assets in the Appalachian Basin from an undisclosed seller. The assets, operated by Seneca Resources, an affiliate of National Fuel Gas Co., are located primarily across Clearfield, Elk and McKean counties, Pennsylvania, and currently produce approximately 19 MMcf/d.
The transaction marks the seventh investment for IOGR II and the nineteenth overall for the IOG Resources platform, continuing the firm’s focus on acquiring stable, long-life producing assets in key North American basins.
Founded in 2014 and sponsored by First Reserve since 2017, IOG Resources is a Texas-based investment platform focused on producing non-operated oil and gas assets and structured drilling capital. First Reserve, one of the industry’s longest-standing private equity firms, has raised more than $34 billion of aggregate capital across its infrastructure and resource investment strategies.
Gibson, Dunn & Crutcher LLP served as legal counsel to IOGR II on the transaction.
