The company, a joint venture between WildHorse Resources and Tanos Energy, was formed last month to pursue this acquisition.
WildHorse Resources and Tanos Energy are two existing portfolio companies of Natural Gas Partners (NGP).
NGP managing director and chief investment coordinator Tony Weber said that the Carthage field is one of the most prolific natural gas fields in the US.
"We are delighted to have two of our existing portfolio companies partner on this acquisition and apply their exploitation and development skills to this world class asset," Weber said.
The acquisition is expected to close by early April 2011.
NGP is a $7.2bn family of investment funds organized to make direct equity investments in private energy enterprises.
