Lonestar Resources Provides Operations Update Following Merger Announcement Lonestar Resources is currently on track to deliver production and financial results at the high end of its guidance for the second quarter, says Frank D. Bracken III, CEO of the Eagle Ford Shale producer set to be acquired by Penn Virginia. Hart Energy Staff Your browser does not support the audio element. Lonestar Resources US Inc., an independent E&P based in Fort Worth, Texas, provided an update on its operations on July 15, days after agreeing to merge with fellow Eagle Ford operator Penn Virginia Corp. “Our 2021 capital program continues to deliver new extended reach laterals on-time and on-budget,” commented Lonestar CEO Frank D. Bracken III in a company release.