United Exploration Partners V Announces Closing of Winding River Energy Services Acquisition
United Exploration Partners V, LLC (“UXPV” or “United”) today announced the successful closing of its acquisition of certain oil and natural gas assets from Winding River Energy Services, Inc. (“WRES”).
First Liberty Bank provided debt financing in support of the transaction. The financing builds upon United’s longstanding relationship with First Liberty Bank and provides UXPV with additional flexibility to support the acquired assets and pursue continued growth across its non-operated portfolio.
The acquired portfolio includes interests in approximately 150 horizontal wells, with an average working interest of approximately 1.0%, generating current net production of approximately 500 barrels of oil equivalent per day (Boe/d). Approximately 55% of the acquired properties are operated by Mewbourne Oil Company, providing meaningful exposure to one of the region’s established operators.
UXPV also acquired approximately 1,902 net leasehold acres with rights across multiple productive formations, including the Cherokee, Red Fork, Deese, Mississippian and Woodford. The acreage provides additional development inventory across multiple target intervals and complements United’s existing Oklahoma non-operated portfolio.
“This transaction is directly aligned with our strategy of acquiring high-quality non-operated assets that combine existing cash flow with identifiable future development opportunities,” said Casey Jobe, Chief Executive Officer of United Exploration Partners V. “The acquired assets complement our existing footprint, increase our exposure to high-quality operators and provide additional inventory through which we can continue compounding production and asset value. We remain focused on building scale one acquisition at a time while maintaining the disciplined underwriting that has driven our growth to date.”
Jobe continued, “We also appreciate First Liberty Bank’s continued support of United and its role in financing this transaction. Having a banking partner that understands our strategy, our assets and the non-operated model has been important to our ability to execute transactions efficiently and continue scaling the platform.”
“This acquisition is a strong bolt-on to the assets currently held across the United platform, particularly those within United Production Company,” said Keystone Hughes, Director of Engineering of United Exploration Partners V. “The combination of existing production, diversified well exposure and undeveloped inventory fits well within our technical and commercial strategy. The transaction also demonstrates our ability to leverage our technical expertise, operator relationships and regional knowledge to identify and execute attractive non-operated investment opportunities.”
United Exploration Partners V, LLC is an energy investment company headquartered in Edmond, Oklahoma, focused on the acquisition and development of non-operated oil and natural gas interests. UXPV seeks to create long-term value through disciplined acquisitions of producing assets, leasehold interests and development opportunities alongside established operators.
Following the WRES acquisition, UXPV holds more than 4,000 net leasehold acres and 350 horizontal wells, further expanding and diversifying its Oklahoma portfolio.
United Capital Partners manages United’s non-operated investment platforms, including United Production Company, United Exploration Partners V and Mass Energy. Collectively, these platforms produce more than 4,000 Boe/d, with operations concentrated primarily within the Anadarko Basin Resource Play (“ABRP”).
United continues to pursue acquisitions and strategic partnerships that expand its non-operated portfolio through a combination of producing assets, undeveloped inventory and long-term development opportunities.
