White Knight Production LLC, an independent oil and gas company in Lafayette, announced it has acquired producing oil fields in the San Joaquin Basin, California.
The price was not disclosed.
The company said the fields consist of multiple-stacked reservoirs across 11,500 acres and produced about 430 barrels of oil equivalent per day during the first quarter of 2015.
The properties will be operated and managed by WKP, which was formed as a partnership between Bayou City Energy LP, White Knight Resources LLC and White Knight individual investor Benton Knobloch. Bayou City, formed in 2015, invests in lower middle-market companies in the exploration and production industry. WKP’s acquisition represents the first investment by Bayou City.
WKP said it plans to expand the existing production and reserves through drilling, workovers, and enhanced field operating efficiency.