Energy Hunter Resources Agrees To Acquire Midland Basin Properties

Posted by Katie Woodward - OilVoice


Energy Hunter Resources, Inc., an exploration and production company with a balanced portfolio of oil and natural gas properties headquartered in Dallas, Texas, announced today that it has agreed to acquire an undivided ownership interest in certain oil producing properties located in Reagan County, Texas from an undisclosed seller. The working interest being acquired represents a 17.5% interest in an eighty acre block that is currently held by production.  The effective date of the transaction is December 1, 2016.  Energy Hunter Resources, Inc. anticipates that the purchase of the Midland Basin properties will close in January 2017, subject to due diligence and standard title review.

Gary C. Evans, Chairman & CEO of Energy Hunter Resources, Inc., said, "This will be our third acquisition for Energy Hunter in the past six months and our second one located in the Permian Basin.  While the size of the property acquisition is relatively small, it leverages our way into an existing area of the Midland Basin that has a significant amount of future drilling activity planned and also has a well known and active Permian Basin operator, Parsley Energy, Inc.  A two mile horizontal well was drilled and completed in July 2016 by Parsley Energy, Inc. immediately to the West of this property.  The well tested at an initial flow rate of 1,860 BOED (84.5% liquids)."

Evans continued, "We have now begun marketing our IPO roadshow.  As overall service costs continue at record low levels, technology improvements are continuing to increase ultimate recoveries, commodity prices remain stable and are slowly increasing, and the regulatory environment for oil and gas companies becomes more hospitable, we don't believe there could be a better time for a debt-free oil and gas company to go public.  Smaller bite size asset prices are still low and the proceeds generated from the initial public offering will enable Energy Hunter Resources to continue building a premier Permian Basin and Eagle Ford Shale oil and gas company for our shareholders."

New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Energy Hunter ResourcesMidland BasinAcquisitionFinanceAssets

More items from katie

Shell announces appointment of new Company Secretary

Royal Dutch Shell plc announces the appointment of Linda Szymanski as Company Secretary with effect from January 1, 2017. Ms Szymanski succeeds Michiel Brandjes who retires at the end of the year after 36 years of service with the Shell group, of which 13 years was as General Counsel Corporate and C ...

Katie Woodward - OilVoice

Posted 3 years agoPress > ShellPeople on the MoveCompany Secretary

Spartan Energy Corp. Announces Closing of Previously Announced Strategic Light Oil Acquisition, 2017 Corporate Budget and Increase in Borrowing Base to $350 Million

CALGARY, ALBERTA--(Marketwired - Dec. 8, 2016) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX:SPE) is pleased to announce the closing of its previously announced strategic light oil acquisition in southeast Saskatchewan from ARC Resources Ltd. (the "Acquisition"). The Acquisition includes ...

Katie Woodward - OilVoice

Posted 3 years agoPress > Spartan Energy CorpAcquisition2017 +2

ARC Resources Ltd. Closes Sale of Saskatchewan Assets

CALGARY, Dec. 8, 2016 /CNW/ - (ARX – TSX) ARC Resources Ltd. is pleased to announce that it has successfully closed the previously-announced sale of its Saskatchewan assets and operations to Spartan Energy Corp. (SPE – TSX), for total cash consideration of $700 million, subject to customary post-clo ...

Katie Woodward - OilVoice

Posted 3 years agoPress > ARC ResourcesSaskatchewanAssets +2

Perpetual Energy announces 2017 capital spending and production guidance

CALGARY, Dec. 8, 2016 /CNW/ - Perpetual Energy Inc. ("Perpetual", the "Company" or the "Corporation") (TSX:PMT) is pleased to announce its capital spending plans and expected production growth for 2017. Perpetual's success in advancing its strategic priorities in 2016, coupled with strengthening co ...

Katie Woodward - OilVoice

Posted 3 years agoPress > Perpetual Energy2017CAPEX +1

First LNG produced from PETRONAS' first floating LNG facility PFLNG Satu

PETRONAS' first floating liquefied natural gas (LNG) facility, PFLNG SATU has achieved an industry breakthrough with the successful production of its first drop of LNG from the Kanowit gas field, offshore Sarawak on 5 December 2016. The operational milestone marks a decade long journey for PETRONAS ...

Katie Woodward - OilVoice

Posted 3 years agoPress > PETRONASLNGPFLNG Satu +1
All posts from katie