Sector-focused Pinpoint Energy Partners has acquired oil and gas properties in the Lobo and Olmos areas of South Texas from Rosetta Resources Operating for $95m.
George Laflin, Pinpoint’s president and CEO, said, “These assets are on concentrated acreage positions held by production. They fit our strategy to provide stable cash flow due to their long life, low decline rates and a suitable inventory of recompletions and low risk new drilling opportunities.”
Pinpoint was formed in 2011 by Laflin, Jim Troxel, Bryan Simmons and Steve Hochstein. It targets mature conventional onshore assets in North America and is backed by private equity firm American Infrastructure MLP Funds.
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