Iog Resources Announces Acquisition And Closing Of Delaware Basin Producing Assets

IOG Resources, LLC (“IOGR”) today announced that it has acquired producing oil and gas assets (the “Assets”) in the Delaware Basin from Tier 1 Merced Holdings, LLC (“Tier 1”). The Assets consist of non-operated wellbores primarily located in Eddy and Lea counties, New Mexico. With this acquisition, IOGR adds net production of approximately 3,800 boe/d under top-tier operators including Devon, Conoco, and Marathon. In conjunction with the transaction, IOGR successfully closed a new, upsized revolving credit facility. Following the transaction, the IOGR portfolio includes 12 discrete investments across 6 core basins in the US.