The Jonah field acquisition was originally announced on March 31, 2014.

This is the first acquisition by Jonah Energy, which was formed by TPG, a global private investment firm, to acquire and operate North American onshore oil & gas properties. The properties acquired by Jonah Energy comprise a total productive area of about 24,000 acres and over 1,500 active wells in the Jonah field and over 100,000 undeveloped acres adjacent to Jonah known as the Normally Pressured Lance (NPL) area. Year-end 2013 proved reserves totaled 1.5 trillion cubic feet equivalent (Tcfe) with Q1 2014 net production of 311 Mmcfe/d.

Jonah Energy is led by Tom Hart, Chief Executive Officer, and Craig Manaugh, President and Chief Operating Officer. The company’s board includes Dan Allen Hughes, Jr., President and CEO of the Dan A. Hughes Company, and TPG Partners Michael MacDougall and Christopher Ortega, in addition to Mssrs. Hart and Manaugh.

"We are very pleased to close this acquisition and to announce the name of our new company," said Hart. "We believe the name Jonah Energy will resonate in our industry, as it honors the people who discovered and developed this great asset and reflects our dedication to growing our company with Jonah field as our foundation."

Manaugh said, "We are excited to move forward under our new name as we underscore our commitment to the Jonah field employees and the surrounding communities that have been an integral part of the field’s success. With a world-class gas field, long reserve life and future drilling potential, we believe the new Jonah Energy holds much promise and opportunity."

TPG has been an active energy investor for nearly two decades and has completed 18 energy transactions, most recently including Petro Harvester Oil & Gas, the Cleveland/Tonkawa subsidiary of Chesapeake Energy, Axip Energy Services (formerly Valerus Compression), Copano Energy, Northern Tier Energy, Alinta Energy and Beta Renewables, among others.

"The Jonah field has proven to be one of the country’s highest quality natural gas fields, and natural gas will play an increasingly important role in meeting America’s energy needs over the coming decades," said Ortega. "We are looking forward to working with our partners in Jonah Energy as we invest in and grow this prime asset."

Jonah Energy plans to retain the employees currently working in connection with the Jonah field and also plans to continue investment in the field and adjacent acreage.