PE-Backed Patara Buys $200M Apache Texas Gas Portfolio

Law360, New York (December 12, 2011, 5:31 PM EST) -- Patara Oil & Gas LLC, which is backed by private equity firms Jefferies Capital Partners and Troika Resources Investment PEF, said Monday it had acquired a portfolio of East Texas natural gas assets from Apache Corp. for a reported $200 million.

The assets include about 80,000 gross acres of leaseholds and properties located mainly in Freestone, Nacogdoches and Upshur counties in Texas that produce about 31 million cubic feet of natural gas every day, Patara said in a statement posted Monday.

“The Apache assets are a...
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