PayRock Energy is an Oklahoma City-based exploration and production company focused on the pursuit of statistically proven, liquids-rich unconventional assets within the most economic basins. PayRock was formed in November 2012 by a seasoned management team with an extensive track record of value creation and experience working for top tier operators in the oil and gas industry.
PayRock amassed 61,000 net acres as an early mover in the core of the STACK play, primarily in Oklahoma's Kingfisher and Canadian counties. By continuously refining its drilling and completion practices to drive down well costs and enhance well performance, management was able to unlock substantial value and deliver a sizeable and scalable opportunity with compelling, oil-weighted economics and tangible upside in the core of one of the most attractive resource plays in the United States.
In August 2016, PayRock closed on its sale to Marathon Oil Corporation (NYSE: MRO) for an all-cash consideration of $887.5 million.