ZaZa Energy completed an acquisition in March from Range Resources that expanded the company’s Eaglebine position to almost 90,000 net acres. The company basically doubled its gross acreage in the play from 83,000 to 144,000 gross acres through the acquisition. ZaZa will operate the acreage and is require to make two undisclosed payments and drill one well under terms of the deal.
ZaZa plans a six well drilling program, with both vertical and horizontal wells, that will start in May. The acreage is contiguous with the company’s position that expands into parts of Grimes, Madison, and Walker counties. The company expects the greatest potential is from the liquids-rich Eaglebine, but also expects to drill through two other potential “resource plays” and seven conventional formations.
You can read more at the company website