Lonestar Resources acquires Eagle Ford leasehold

Lonestar Resources Ltd. (ASX: LNR, OTCQX: LNREF) has reached definitive agreements to acquire leasehold associated with approximately 6,122 gross/4,047 net mineral acres in La Salle County, Texas. 

Lonestar's independent engineering consultants estimates that proved net reserves associated with these properties are 2.7 million barrels of liquids and 11.0 billion cubic feet of natural gas, or 4.5 million barrels of oil equivalent (MMBOE). Lonestar's third-party engineering consultants estimate that proved and probable net reserves associated with the purchase are 6.4 million barrels of liquids and 26.3 billion cubic feet of natural gas, or 10.8 MMBOE.

The addition of this leasehold adds 32 gross / 20 net horizontal Eagle Ford shale drilling locations to Lonestar's drilling inventory. At year-end 2014, Lonestar held interests in 143 engineered Eagle Ford shale drilling locations. This acreage is in two blocks and is in different parts of La Salle County, Texas.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...