Texas American Resources, LLC Exits Eagle Ford

$135-Million Deal Includes 55,000 Net Eagle Ford Acres
Texas American Resources Eagle Ford Area Map

Texas American Resources Eagle Ford Area Map | Click to Enlarge

Austin, Texas-based Texas American Resources, LLC exits the Eagle Ford Shale this month, with the sale of its South Texas assets in Dimmit, Frio, La Salle, and Zavala Counties. The company will now shift its operational focus to its remaining assets in the Texas Panhandle.

Texas American Resources announced the closing of the $135-million deal this week to an undisclosed buyer. Included in the sale are the company’s existing production, proved reserves, and Eagle Ford and Austin Chalk oil development opportunities across 55,000 net Eagle Ford acres.

Texas American Resources CEO David Honeycutt, said, “we are pleased with our outcome in South Texas. The sale is accretive to both the buyer and seller. There are many remaining opportunities in our legacy South Texas portfolio and our buyer sees and embraces the upside the assets offer.”

Proceeds from the sale will be used to repay debt, and accelerate development of the Texas Panhandle assets.

Read more at texasarc.com

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Kirk Eggleston

Kirk Eggleston

Contributor at EagleFordShale.com
Kirk Eggleston writes on significant news developments in the Eagle Ford and Bakken Shale plays. He is a former broadcast journalist, and has experience covering news and politics in the Texas and Louisiana markets.

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