Oil Investor Warwick Buys $450 Million of Texas Shale Assets – Investing.com India

  • Date: 17-Sep-2021
  • Source: Investing.com
  • Sector:Oil & Gas
  • Country:Gulf
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Oil Investor Warwick Buys $450 Million of Texas Shale Assets – Investing.com India

(Bloomberg) -- One of the biggest U.S. investors in oil and wells is buying $450 million worth of assets in the Texas Eagle Ford shale basin from a renowned energy family in Dallas. 

Warwick Investment Group LLC, which owns stakes in more than 5,000 oil and gas wells, said Wednesday in a statement it has agreed to buy producing oil and gas wells in the South Texas shale patch from Dallas-based Rosewood Resources Inc., part of the famed Hunt family. Part of the financial commitment includes future development, which Warwick said would target natural gas and natural gas liquids.

“Rosewood grows Warwick’s exposure to world-class, geologically diversified and de-risked reservoirs,” Kate Richard, chief executive officer of Warwick, said in the statement. The investment firm, which has more than $2 billion in managed assets, said it has Eagle Ford property immediately next to the Rosewood acreage.