Territory Resources LLC was established in 2007 by the former management team of Iron Sights Operating, Inc., which was sold to Chesapeake Energy in 2007. Territory immediately began acquiring mature oil fields in Oklahoma for further development.
In April 2018, Territory acquired all of Chesapeake’s remaining assets in southwestern Oklahoma. The asset base includes over 1,000 oil and gas wells, with approximately 400 of those wells being operated by Territory and encompasses 67,000 net acres that are held by production. Over the next few years, Territory will further develop the asset base by exploitation of the existing wells, development-drilling both horizontally and vertically, and ultimately through exploration, which will be aided by the seismic acquired with the assets.