Dallas – September 18, 2026 -- Vega Upstream JV, LLC has completed its acquisition of Toklan Oil and Gas Corporation and affiliated entities for a net purchase price of $15 million, adding 28 producing wells across roughly 7,000 net acres in the Western Anadarko basin.
Deal adds 250-well non-operated portfolio and midstream assets
Beyond the operated acreage, Toklan brings a non-operated interest portfolio spanning more than 250 wells, with combined operated and non-operated net production of approximately 500 BOE/d. The transaction also transferred West Thomas Field Services, which owns and operates the Deer Greek Gathering System and associated surface acreage, giving Vega JV midstream infrastructure alongside its upstream position.
Transaction structured as 100% stock purchase of holding entity
The deal was executed as a purchase of 100% of the issued and outstanding capital stock of Rampart Holdings, Inc., an Oklahoma corporation that itself holds 100% of Toklan Oil and Gas Corporation, the operator, along with related entities. Toklan is an Oklahoma Corporation Commission-registered operator founded in 1963 and headquartered in Tulsa, Oklahoma.
Vega JV targets 58 drilling locations across multi-pay formations
Chief Operating Officer Christopher Czuppon said the company is evaluating a portfolio of approximately 58 operated and non-operated drilling locations before launching a development drilling program. "With completion of this acquisition we are strategically well positioned to participate in the expanding Cherokee Shale and Red Fork plays in the Western Anadarko basin," Czuppon said, adding that the program aims to unlock multi-pay potential across the Cherokee Shale, Red Fork, Cottage Grove, Meramec and Woodford formations.
Company eyes further deals in Western Oklahoma and Texas panhandle
Vega JV, managed by industry veterans Randall Connally, Christopher Czuppon and Claudio Coltellini, said the acquisition establishes an operating platform for continued expansion across Western Oklahoma and the Texas panhandle, where it is actively evaluating additional acquisition and development drilling opportunities.