Jonah Energy Announces Acquisition of High Plains Natural Resources

Second acquisition of 2025 continues the company’s growth plan focused on assets with significant cashflow and development potential

DENVER, July 17, 2025 – Jonah Energy LLC, together with its partner Burk Royalty Co Ltd (“Burk”), announced the closing of their acquisition of High Plains Natural Resources LLC effective January 1, 2025. The acquired assets are located in the Northwestern Shelf of the Permian Basin, spanning both Texas and New Mexico, and produce primarily from the San Andres formation.

The acquisition enhances Jonah’s scale, cash flow, and long-term development opportunities. The assets include approximately 62,000 net acres and 250 operated horizontal wells across Yoakum County, Texas, and Lea County, New Mexico. The wells are expected to produce an average of approximately 15,000 barrels of oil equivalent per day (Boe/d) in the third quarter of 2025, with a product mix of 50% oil and 75% total liquids. The acreage position also includes substantial drilling inventory with development expected to commence in 2026.

“This transaction represents another significant step forward in Jonah’s continued growth trajectory,” said Brian Reger, Chief Executive Officer of Jonah Energy. “It enhances our cashflow and footprint in the Permian Basin following our successful acquisition of Tap Rock earlier this year. It aligns with our disciplined strategy of expanding in high-quality plays and strengthens our position as a leader focused on responsible, long-term value creation.”

Jonah’s portion of the acquisition was funded through a combination of cash on hand and an asset-backed securitization (ABS). This was Jonah’s second ABS issuance in 2025, each aligned with a strategic acquisition. It also marks Jonah’s fifth ABS issuance with total proceeds of over $2B to date.

In the second quarter of 2025, Jonah also entered a strategic financing partnership with affiliates of Eldridge Capital Management LLC (“Eldridge”), which supports the company’s acquisition and development plans and increases its ability to pursue larger-scale opportunities.

“We are pleased to grow our platform alongside our existing ABS investors and strong partners like Eldridge and Burk,” said Rad Weaver, Chairman of the Board of Jonah Energy. “This acquisition reinforces Jonah’s disciplined consolidation strategy in high-quality plays and positions us for continued value creation in 2025 and beyond.”

About Jonah Energy LLC

Jonah Energy is an oil and gas exploration and development company headquartered in Denver, Colorado with assets in the Green River Basin in Wyoming and Permian Basin in New Mexico and Texas. The company is one of the largest privately held oil and natural gas producers in the US and focuses on producing oil and natural gas in an environmentally responsible manner.

MEDIA CONTACT:
Paul Ulrich, Jonah Energy
Paul.Ulrich@JonahEnergy.com
Cell: (303) 330-6346