Porter Hedges LLP represented Red Mountain Energy, LLC (“Red Mountain”) and IOG Capital, LP (“IOG Capital”) affiliate, IOG STACK Opportunities, LLC (“IOG STACK”), in the sale of acreage and production located in Woodward County, Oklahoma to SandRidge Energy Inc. (NYSE: SD) (“SandRidge Energy”). IOG STACK recently acquired the position in June 2016, as part of a joint development program with Red Mountain of Oklahoma City, Oklahoma.
IOG Capital is a Dallas, Texas based energy investment firm that manages oil and gas assets. The Firm seeks to invest in upstream oil and gas development projects located onshore in the United States through joint development and traditional joint operating agreements
Red Mountain Energy is an oil and gas exploration company based in Oklahoma City, Oklahoma and focuses its exploration efforts on liquid rich targets with associated natural gas achieved through horizontal drilling.
SandRidge Energy is an oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma with its principal focus on developing high-return, growth-oriented projects in the U.S. Mid-Continent and Niobrara Shale.
The Porter Hedges team was led by partners Ray Lees (Oklahoma City) and Jeremy Mouton (Houston), with assistance from Corey Brown, Denny Ng, and Adam Nalley.
For additional details, see the IOG Capital press release here.