DALLAS, May 14, 2018 (GLOBE NEWSWIRE) — Titanium Exploration Partners, LLC (“Titanium”) is pleased to announce the sale of certain conventional assets in Oklahoma’s SCOOP play to Red Rocks Energy Partners, L.P. (“Red Rocks”). The sale, which closed on 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 (a) all of its interests in operated and non-operated horizontal wells, and (b) 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, and 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.”
About Titanium Exploration Partners, LLC
Titanium Exploration Partners, LLC, is a Dallas, Texas based oil and gas investment firm managed by Charles B. “Chip” Simmons, CEO and Peter M. Halloran, Executive Chairman and Chief Investment Officer. Titanium currently manages assets consisting of producing and non-producing oil and natural gas reserves in the Eagle Ford Shale play in South Texas and the SCOOP/STACK plays in Oklahoma. Titanium considers investments in operated and non-operated assets in all U.S. shale plays. For more information, please see www.titaniumep.com.
About Red Rocks Energy Partners, L.P.
Red Rocks Resources LLC is a private oil and gas company founded in 2001 and headquartered in Oklahoma City, Oklahoma. Red Rocks is led by three experienced oil executives, Kevin Fitzgerald, Randy Stalcup and Jim Stubbs and operates oil and gas assets throughout the Mid-Continent.
Titanium Exploration Partners, LLC