Press Releases

BlueStone Natural Resources II, LLC Announces Acquisitions & BlueStone Natural Resources, LLC Continues Drilling in Mossy Grove Field

December 2012 - Tulsa, OK
BlueStone Natural Resources II, LLC has closed on six major transactions since its formation in February, increasing proved reserves to more than 100 BCF equivalent. In total, BlueStone Natural Resources II, LLC now operates more than 500 wells located in South Texas and the Barnett Shale, with net production of more than 25 million cubic foot equivalent per day. BlueStone Natural Resources II, LLC still has capacity for additional acquisitions utilizing both undrawn equity commitments and additional funding under its $200 Million credit facility with Wells Fargo Bank, N.A.

BlueStone Natural Resources Sells Subsidiary

February 2012 - Tulsa, OK

Tulsa based BlueStone Natural Resources, LLC recently closed on the sale of its wholly owned subsidiary, Columbus Energy, LLC, to Memorial Production Partners, LP. The divestment results in the transfer of its ownership in more than 500 gas wells located in South Texas. Under the terms of the agreement, BlueStone will continue to operate the properties as a contractor to the purchaser under the terms of a transition services agreement between the parties. The length of this transition period has yet to be determined, but should last well into 2012.

BlueStone Natural Resources Closes Acquisitions and New Bank Facility

July 2010 - Tulsa, OK

Tulsa based BlueStone Natural Resources, LLC has closed on 4 significant transactions with another transaction pending, more than doubling its net production and reserves. With this activity, BlueStone has increased its net production to near 20 MMCFD and net proved reserves to over 100 BCFE.

BlueStone Natural Resources Announces the Addition of Three Banks to its Credit Group

August 2009 - Tulsa, OK

BlueStone Natural Resources, LLC (“BlueStone”) recently added three banks to its existing credit facility. Comerica Bank, Compass Bank and Wells Fargo recently entered the $150 Million facility that is led by Bank of America.

BlueStone Natural Resources Announces Acquisitions

July 2007 - Tulsa, OK

BlueStone Natural Resources has acquired Columbus Energy for an undisclosed amount. Columbus will continue to operate as a subsidiary of BlueStone.

Columbus, which has assets concentrated in South Texas and the Rocky Mountains, operates more than 140 wells in these areas producing more than 17.8 MMCFED.

In a separate transaction, BlueStone purchased additional interests in certain South Texas properties operated by Columbus from a subsidiary of Samson.

BlueStone Natural Resources Formed

February 2006 - Tulsa, OK

BlueStone Natural Resources was formed in February, 2006 utilizing funds from the Management Team and Natural Gas Partners. Some members of the BlueStone Management Team previously partnered with Natural Gas Partners to form AXIO Natural Resources in 2003. AXIO Natural Resources was sold to Chesapeake earlier this year.