South Korea's SK Agrees To Purchase Longfellow Energy for Half a Billion Dollars

By Mark Christian | March 21, 2018

SEOUL, March 21  -- SK Innovation Company announced its intention to buy a 100 percent stake in Longfellow Nemaha, a U.S. gas exploration firm with acreage in Oklahoma. The transaction will be made by through SK's North American subsidiary, SK E&P America, Inc.

SK announced plans for a $4 billion dollar investment in U.S. shale during an economic mission to Wahington D.C. last year, and the Longfellow deal is their first acquisition in that growth initiative.
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SK E&P America said Tuesday that it has entered into a definitive agreement to "acquire all of the outstanding membership interests of Longfellow Nemaha" in a transaction set to close in the second quarter of 2018.

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SK initially invested in the growing its North American assets in 2014 by its purchace of Plymouth Exploration, and through that platform, continues to build a balanced portfolio of conventional and unconventional assets.

​The President of SK E&P America, Kim Tae-won, said "This transaction leverages our operational expertise in the region and represents a significant step towards realizing SK's vision of being a top-tier operator in the U.S. lower 48 states and beyond."

The deal is set to close during the end of June.