Oklahoma-based buyer Primary Natural Resources III will hand over operatorship of 35 wells and participation in 31 more. Privately held Peregrine did not disclose financial details.
The deal covered "10,000 net acres in Ellis and Roger Mills Counties in western Oklahoma with production from the Cleveland, Tonkawa and Atoka formations," Peregrine said.
Peregrine plans 18 new wells for the basin next year targeting the Lower Cleveland formation and plans to speed up drilling further in 2015.
"This
