Okla.-Panhandle Oil grabs land in South TexasOkla.-Panhandle Oil grabs land in South Texashttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=38892014-06-19T09:16:00Z2014-06-18T00:00:00Z

SAN ANTONIO - Oklahoma City-based Panhandle Oil and Gas Inc. has closed its $80.4 million purchase of a 16 percent interest in 1,775 net acres in the Eagle Ford Shale oil-and-gas formation.

The acreage block contains 63 producing wells, four in drilling or completion stage and 109 undeveloped locations inside South Texas' oil-rich LaSalle and Frio counties. Cheyenne Petroleum Co. will continue to serve as operator for the wells.

The Eagle Ford acreage in which Panhandle purchased a stake has proved reserves of 1.7 million barrels of oil, 1.7 million cubic feet of gas and 297,000 barrels of natural gas liquids.

San Antonio Business Journal
San Antonio-New Braunfels
http://www.bizjournals.com/sanantonio/blog/eagle-ford-shale-insight/2014/06/panhandle-oil-closes-80-4-million-deal-for-south.htmlRead more at {Source}

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