DALLAS, Sept. 16, 2026 /PRNewswire/ — Vega Upstream JV, LLC (“Vega JV”) is pleased to announce the recent completion of its acquisition of Toklan Oil and Gas Corporation and affiliated companies (“Toklan” or, “the Company”) for a net purchase price of the upstream and midstream assets of US$15 million. Toklan operates 28 producing wells on approximately 7,000 net acres concentrated in the highly active Western Anadarko basin. The Company also owns a non-op portfolio including interest in over 250 wells with recent net production (op and non-op) of approximately 500 BOE/d. In addition to the upstream assets, the Company acquired West Thomas Field Services which owns and operates the Deer Greek Gathering System and certain associated surface acreage.

The transaction was structured as a purchase of 100% of the issued and outstanding capital stock of Rampart Holdings, Inc., an Oklahoma corporation (which itself holds 100% of Toklan Oil and Gas Corporation (Operator)) and related entities by Vega JV.

Vega JV is managed by energy industry veterans Randall Connally, Christopher Czuppon and Claudio Coltellini.

Management Commentary

Christopher Czuppon, Chief Operating Officer: 

“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. Vega JV is currently evaluating our portfolio of approximately 58 operated and non-operated drilling locations prior to initiating a development drilling program to unlock multi-pay potential including Cherokee Shale, Red Fork, Cottage Grove, Meramec, and Woodford formations.”

“This acquisition provides a strong operating platform for continued expansion in the Western Anadarko basin across Western Oklahoma and the Texas panhandle where we are actively evaluating and looking at additional acquisition and development drilling opportunities.”

Website: www.vega-energy.net 

About Vega Upstream JV, LLC

Vega Upstream JV, LLC is an oil and gas investment company focused on opportunities to acquire producing oil and gas properties with significant developmental drilling upside in the Western Anadarko basin in Western Oklahoma.

About Toklan Oil and Gas Corporation

Toklan is an Oklahoma Corporation Commission (OCC) registered operator founded in 1963 and headquartered in Tulsa, Oklahoma. Toklan’s website is https://toklanoilandgas.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/vega-upstream-jv-llc-completes-western-anadarko-basin-acquisition-302880845.html

SOURCE Vega Energy LLC