Tulsa based E & P company Sanguine Gas Exploration has acquired $45 million of dry-gas properties in Oklahoma’s eastern Anadarko Basin in partnership with fellow Tulsa E & P Nadel and Gussman and Houston-based LeFrak Energy. The acquisition includes 25,000 net acres primarily in Caddo and Grady counties with net production of 13 MMcfe/d (97% gas) from more than 400 vertical wellbores, of which 130 are operated. Sanguine will assume operatorship on behalf of the buyers, increasing its existing portfolio of 165 operated Midcontinent wells by nearly 80%.
