Titanium Exploration Partners announces sale of assets to Red Rocks Energy Partners
DALLAS -- Titanium Exploration Partners, LLC, is pleased to announce the sale of certain conventional assets in Oklahoma’s SCOOP play to Red Rocks Energy Partners, L.P.
The sale, which closed May 9, 2018, consisted primarily of Titanium’s interests in conventional operated and non-operated wells, and certain unit rights in associated shallow and deep conventional horizons. Red Rocks also acquired all right, title and interest in the McLemore and Maddux units in the SCOOP.
Following the closing, Titanium will retain a significant core SCOOP position consisting of all of its interests in operated and non-operated horizontal wells, and all rights from the top of the Springer shale to the base of the Hunton formation, including approximately 9,200 net acres in the Mississippian formation and 10,600 net acres in the Woodford formation. Titanium, also will retain all of its STACK play assets that were not impacted by the Red Rocks transaction.
Chip Simmons, Titanium’s CEO, said, “The sale of our non-core, conventional assets to Red Rocks satisfied one of our key strategic directives.” Randy Stalcup, Red Rocks’ managing partner, added, “The acquisition adds attractive scale to Red Rocks’ already large inventory in the SCOOP area of Oklahoma.”