Cantera Energy completed its acquisition of assets from EP Energy Wednesday for an undisclosed amount.The acquisition consisted of 750 producing wells located in nine counties across South Texas.

According to a statement made by Cantera's CEO and President John Kelly, the company is thrilled about their recent acquisition. Cantera believes that the assets bought from EP Energy will add value to their company because of its stable production base. 

Cantera's partner, Kayne Anderson Energy Funds, through its Managing Director Dave Iverson wholly shares this sentiment. "We believe that this is the right acquisition for Cantera and are pleased to have acquired a strategic, long-life gas asset, of which management has a deep working knowledge. We are excited about our continued partnership with Cantera and look forward to the company's future growth," Iverson said.

Cantera Energy is a Texas-based oil and gas company that is backed by Kayne Anderson Energy Funds. Created in 2012, the company focuses on acquiring and developing oil and gas properties specifically in the area of South Texas and the Gulf of Mexico.

While EP Energy based in Houston, Texas, is a company that deals with providing natural gas and energy-related products.