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Resource Energy makes first acquisition

Resource Energy Partners, a new private equity-backed upstream oil and gas production company capitalised by funds affiliated with Apollo Global Management, has successfully closed its forst acquisition.

Resource Energy, which was formed to implement an acquisition and exploitation strategy principally focused on the revitalisation of existing wellbores as opposed to drilling new wells, has acquired 112 total wells, 54 operated, with 2,300 barrels of operated oil equivalent per day production in the Williston Basin and is actively pursuing opportunities to expand its footprint in the Bakken play as well as in other Rockies and Texas unconventional oil plays.
The company will be pursuing several acquisitions from USD25 million to USD500 million over the next few years.

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