Evolution Gains Barnett Foothold with $23M Tokyo Gas Deal - Natural Gas Intelligence
Evolution Gains Barnett Foothold with $23M Tokyo Gas Deal Houston-based Evolution Petroleum Corp. is set to enter the Barnett Shale in North Texas with the acquisition of 23,000 net acres from Tokyo Gas Americas Ltd. Evolution said Wednesday it would pay $23.25 million for the nonoperated position, which currently produces about 22 MMcf/d of natural gas and 13,000 b/d of liquids. In percentage terms, 70% of the production to be acquired is gas and 30% is liquids. Blackbeard Operating LLC, which is backed by private equity firm NGP, is operator of a majority of the assets. Evolution CEO Jason ...
Source: naturalgasintel.com