Houston-based Peak 10 Energy said recently it launched as an oil and gas investment platform to acquire oil and gas assets in continental U.S. Initial assets consist of non-operated oil and gas properties in Andrews, Dawson, Fisher, Gaines, Reeves and Scurry counties in west Texas, including more than 100 producing wells and a multi-year drilling program of undeveloped Tier 1 drilling opportunities.
Peak 10 announced Aug. 30 the purchase of non-operated upstream oil and gas and associated water handling and recycling assets in the eastern shelf of Permian Basin in Fisher and Scurry counties. Closing of this first acquisition from a private seller was Aug. 23. Peak 10 holds 57,150 net acres and 13,950 net mineral acres.
CEO Mark Paull said Peak 10 Energy has the “ability to create scale by consolidating dislocated oil and gas assets… We look forward to additional opportunities to provide a differentiated and value-added solution to the market.”