One-Page Deal Sheet
LOLA Energy Buys Marcellus-Focused E&P with 22,000 Net Acres
LOLA Energy Undisclosed
Announced Date
March 23,2021
Close Date
March 23,2021
Transaction Type
Corporate
Asset/Basin:
["Appalachian Basin", "Marcellus Shale", "Burkett Shale"]
TargetZones:
["Marcellus Shale",
Net Acres
% Oil:
Location
Region
Northeast - Appalachia
Country
United States
State
Pennsylvania
County
Butler
Play
Production Production
Production Mix
Transaction Details: Require Private Equity Subscription
LOLA Energy III LLC has acquired an E&P company with operations in Butler County, PA.
The company in question and the financial terms were not disclosed.
The acquired company immediately changed its name to LOLA Energy PetroCo, LLC to rebrand as a LOLA Energy owned and operated company.
Acquired assets include: Acreage: ~22,000 net mineral acres of oil and gas leases in the Marcellus and Burkett shale plays in Butler County, Pennsylvania Wells: 48 proved developed producing HZ wells Production (1Q21): 85 MMcfe/day (73% natural gas / 25% NGLs) DUCs: 18 DUCs and 4 top set planned HZ…Northeast - Appalachia Deal Activity In Last 12 Months
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