Citizen Energy Acquires Oil and Gas Properties of Red Bluff Resources and Bricktown Energy
April 1, 2022
Tulsa-based Citizen Energy closed the acquisition of substantially all oil and gas properties of Red Bluff Resources and Bricktown Energy, effective April 1, 2022. The deal adds ~13,000 BOEPD (56% liquids), ~200 operated wells and 739 non-op wells (an ~18% increase to Citizen's daily production) and was financed in part with $250 million of senior secured second lien notes provided by private funds managed by EIG; the company also increased its revolving credit facility to $1 billion.
- Buyers
- Citizen Energy
- Targets
- Red Bluff Resources, Bricktown Energy
- Sellers
- Red Bluff Resources, Bricktown Energy
- Industry
- Energy
- Location
- Oklahoma, United States
- Transaction Type
- Buyout
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