Kalnin Ventures announces third Marcellus acquisition

DENVER, Colorado -- Kalnin Ventures LLC has announced that it has signed a Purchase and Sale Agreement (PSA) on its third acquisition of a non-operating portfolio in the northeastern Marcellus shale play of Pennsylvania, on behalf of its investor Banpu Pcl.      

Valued at $16 million, the agreement was executed with Radler 2000 LP – Tug Hill Marcellus, LLC, as the seller and is comprised of interests in more than 177 wells, operated by seven established Marcellus operators.

The acquisition agreement follows Kalnin’s most recent transaction with Chief Exploration and Development LLC and continues Kalnin Ventures’ momentum in building a scalable model of acquiring, managing, and monetizing non-operated portfolios for international entities such as Banpu Pcl. 

These transactions were preceded by Kalnin Venture’s March 2016 purchase of a 29.4% from Range Resources – Appalachia, LLC, also in the Marcellus shale of Pennsylvania.

Once closed, Kalnin Ventures will have an interest in 215 active wells with five waiting on completion. The transactions provide Kalnin Ventures with net production to interest of more than 40 MMcfgd.

“This agreement demonstrates our ability to find the attractive opportunities in a rather volatile market, and we expect to announce more transactions in 2017,” said Christopher Kalnin, managing director and founder of Kalnin Ventures LLC. “It is exciting to see us executing on our goal of increasing core acreage in the Marcellus play.  As we expand our foothold in the region, more operators are recognizing us as a potentially strong non-op partner, with ability to add value through our Big Data technology which helps to analyze and drive performance.”