Tanos, which is based in Tyler, Texas snapped up asset packages from ConocoPhillips and Fidelity Exploration & Production totalling about 140,000 net acres in North Louisiana and East Texas.
The package includes 1400 operated and 2800 non-operated wells producing 95 million cubic feet of natural gas per day.
Tanos plans to run one drilling rig and pursue a workover programme on the assets, which include conventional production and potential for further development in the Cotton Valley, Hosston and Bossier formations.
