TXCO Resources no longer exists as the company was dissolved through chapter 11 bankruptcy. The company’s South Texas Eagle Ford Shale acreage was sold to Anadarko and Newfield in early 2010. The company was an active oil & gas explorer in South Texas, with its primary operation in the Maverick Basin of Dimmit, Maverick, Webb, and Zavala counties. The company targeted multiple formation across its acreage, including the Pearsall Shall, Eagle Ford Shale, Olmos Sands, and various other formations.
After declaring bankruptcy, the company’s assets were sold to Anadarko Petroleum and Newfield Exploration. Newfield paid approximately $217 million for 300,000 acres and Anadarko paid $93 million for approximately 80,000 acres. The company subsequently dissolved and is no longer traded in the public markets.
The company headquarters was in San Antonio, TX. The company operated more than 720,000 net acres under lease (1.3 million gross acres). The now defunct strategy applied new technology to overlooked opportunities in high potential areas that offer multiple resource plays and thousands of drilling prospects. TXCO had interests in and production from the Maverick Basin of South Texas and the Marfa Basin of West Texas.
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Counties Where TXCO Resources was Active
TXCO Resources Eagle Ford Shale Quarterly Commentary
“San Antonio, Tex.-based independent oil and gas company, TXCO Resources Inc., and its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code in the US Bankruptcy Court for the Western District of Texas. The company has filed motions to allow it to continue to conduct business without interruption.”
Source: TXCO Resources