Juneau Energy, LLC acquires more land in Eagle Ford Shale

Juneau Energy, LLC announced it acquired about 10,264 net acres of oil and gas leases in the Eagle Ford Shale formation in East Texas.

A subsidiary of Leucadia National Corporation, Juneau Energy, LLC, announced it acquired about 10,264 net acres of oil and gas leases in the Eagle Ford Shale formation in East Texas. The new leases are mainly in the Brazos and Burleson counties.

The company closed on the deal Sept. 17, and with the new acreage, Juneau Energy now holds 15,000 net acres within the Eagle Ford Shale, 13,500 of which are continuous.

The addition to its portfolio will allow the company to immediately begin to develop high value assets in Texas, according to Juneau Energy CEO Brad Juneau.

Oil and gas production in the Eagle Ford Shale has increased over recent years and now producers in the region are interested in improving the recovery process, the Houston Chronicle reported.

The U.S. Energy Information Administration anticipates the area to produce 1.5 million barrels of liquids daily this September but many businesses are concerned their leaving reserves behind. Companies are drilling more wells on each lease and using new technology and recovery methods, such as frac sand, to better the process but operators estimate they still leave 95 percent of oil and gas molecules behind in a well.

More information on the Eagle Ford Shale can be found at PennEnergy's research area.

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...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs