Hawkwood Energy, an independent upstream oil and gas company, has announced the acquisition of producing and non-producing assets in Texas. These assets, in Brazos, Leon, Madison, and Robertson counties, establish the company as a significant player in the emerging Eagle Ford and Woodbine plays in East Texas.
Hawkwood's entry into the area is the result of two separate transactions: the purchase of Crimson Energy Partners III's assets located mostly in Brazos County and the purchase of certain Encana Oil and Gas (USA), Inc. assets located mostly in Robertson County. The combined transactions include approximately 1800 bpd of oil of current production and more than 50,000 generally contiguous net undeveloped acres.
Comments
CEO Patrick Oenbring commented: "We are excited about the growing unconventional activity in the Eagle Ford and Woodbine, as well as the other long term multi-pay opportunities the area has to offer. Hawkwood intends to invest significant capital and resources into the area to create substantial value for its investors. As an operator, we are also committed to having a positive impact on the communities where we work, including taking an uncompromising approach to safety and environmental-related issues."
Adapted from press release by Katie Woodward