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Stronghold Energy II Holdings, LLC

Company Summary

Description

Stronghold Energy II is a newly formed oil and gas exploration and production company focused on the Central Basin Platform of the Permian Basin. The company is led by Steve Weatherl and a senior team with extensive experience in the Permian. Stronghold intends to acquire meaningful acreage positions for oil and gas development across the Central Basin Platform.

Operational Regions

  • Central Basin Platform

Related Entities

Recent news

Company Transactions

Date: 8/30/2022
Type: Acquisition

BUYERS:
  • Ring Energy, Inc.
    • SELLERS:
  • Stronghold Energy II Holdings, LLC
  • Warburg Pincus LLC
    • DETAILS:

    COST: 465 $MM

    VOLUMES: 9.1 MBOE/d

    ACRES: 37000 Acres

    NOTES:
    Ring Energy has agreed to acquire the assets of Stronghold Energy II Operating, LLC and Stronghold Energy II Royalties, LP from Warburg Pincus. The position includes 37,000 net acres in the Permian Basin’s Central Basin Platform with current net production of 9.1 Mboe/d (54% oil, 75% liquids.) The acreage also holds 500 new vertical drilling and recompletion locations.
    REGIONS:
  • Central Basin Platform
  • Permian Basin