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OneRock Energy Acquires 160,000 Acres in the Powder River Basin

08/30/2023

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OneRock-Energy-Acquires-160-000-Acres-in-the-Powder-River-Basin

OneRock acquired Northwoods Management's assets in Wyoming's Powder River Basin, average production of approximately 5,000 barrels of oil equivalent per day.

In an August 21 press release, OneRock Energy Holdings LLC announced the successful completion of its acquisition of Northwoods Management Co. and related entities in Wyoming's Powder River Basin. The acquired assets, which average around 5,000 barrels of oil equivalent per day, cover 160,000 net acres mainly in Converse, Campbell, and Johnson counties.

OneRock, an investment subsidiary of Pan Management, initially publicized the deal in June. Northwoods had expanded its Powder River Basin holdings by over 112,000 acres through a $500 million purchase from SM Energy Co. in 2018, with financial backing from Apollo.

Who is Pan Management?

Founded in 2013 and headquartered in Houston, Texas, Pan Management is a leading energy investment firm. Specializing in natural gas trading, upstream oil and gas investment, and midstream oil and gas investment, the firm brings decades of combined industry experience to the table. Currently, it oversees a substantial portfolio with more than $2 billion in assets under management.

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