ZaZa Energy Gathers Funds for Eaglebine Development

$7.5 Million Stock Deal
Eagle Ford & Eaglebine Map

Eagle Ford & Eaglebine Map | Click to Enlarge

Eagle Ford-focused ZaZa Energy Corp. entered into a $7.5 stock deal with Los Angeles-based Crede Capital Group LLC, the company said in late July of 2014.

The proceeds will fund additional development and lease acquisitions in ZaZa’s East Texas area, the company said in a prepared release.

Crede purchased a total of $5-million of ZaZa common stock, priced at $0.83 each. The investment will be made in two phases, according to the company. The first phase closed on July 21st. The transaction includes 0.6 warrants for every share of ZaZa common stock with a price of $1.1205 per share.

The second phase, which is expected to close in late October, also includes 0.6 warrants for every share of ZaZa common stock. The price for additional shares will be determined by the closing price on the day of closing.

ZaZa – EOG Resources East Texas Eagle Ford JV

In March of 2013, ZaZa Energy and EOG Resources finalized terms on a joint venture (JV) targeting the Eaglebine in Grimes, Madison, Montgomery, Trinity, and Walker counties.

Read more: EOG – ZaZa Joint Venture in the Eaglebine

The company has re-focused its attention to the Eaglebine, after divesting 10,300 net Eagle Ford acres in July of 2013 to a subsidiary of Sanchez Energy for $28.8 million. Approximately 82% of ZaZa’s first quarter 2014 production came from the Eaglebine.

Read more: ZaZa Continues Laying Groundwork for Eagle Ford Growth

Read more at zazaenergy.com

EOG Resources – ZaZa Energy Move into Third and Final Phase of Joint Venture Agreement

ZaZa Energy Receives $15 Million in Cash and Carry Consideration from EOG Resources
ZaZa Energy Eaglebine Map

ZaZa Energy Eaglebine Map | Click to Enlarge

EOG Resources joint venture with ZaZa Energy moves into its third and final phase in the Eaglebine. Plans were accelerated in the latter part of 2013 to move forward with the second phase of the joint venture.

Read more: EOG Accelerates Eaglebine JV with ZaZa by Electing into Phase II

In the third phase, ZaZa will receive $15 million and an additional two-well drilling commitment from EOG. As part of the agreement, EOG must begin drilling the first of two wells by July 1, 2014. In exchange, EOG will gain a 75% working interest in all of Zaza’s remaining acreage.

[Read more…]

GE – Vess Oil Acquire Woodbine & Eagle Ford Acreage From Enervest – $108 Million

Gains 13,000 Net Acres in Brazos, Grimes, and Madison Counties
Vess Oil Operations Map

Vess Oil Operations Map | Click to Enlarge

GE and Vess Oil have partnered to acquire 13,000 net acres in Brazos, Grimes, and Madison counties from EnerVest for $108 million.

The acreage is producing from the Woodbine and prospective for the Eagle Ford Shale. [Read more…]

EOG – ZaZa Joint Venture in the Eaglebine

EOG Will Operate And Commence Drilling Early In 2013
ZaZa Energy Eaglebine Map

ZaZa Energy Eaglebine Map | Click to Enlarge

ZaZa Energy and EOG Resources have reached terms on a joint venture (jv) targeting the Eaglebine in Grimes, Madison, Montgomery, Trinity, and Walker counties.

ZaZa is also selling Eagle Ford acreage in separate transactions. Two deals for more than 10,000 acres in the Moulton area were sold to undisclosed buyers for $52.5 million. [Read more…]

Is the Eaglebine Ready To Take Off?

Drilling in 2013 Will Determine The Extent Of The Play
Halcon Resources Eaglebine Map

Halcon Resources Lease Map

Drilling results in the Eaglebine have been relatively quiet, but operators have leased aggressively in Brazos, Leon, Madison, Walker, and Grimes counties for a few years now. [Read more…]

Energy & Exploration Preparing to Go Public with Eagle Ford & Woodbine Acreage

Also acquiring 57,275 acres from CHK for $125 million in the Eagle Ford & Woodbine
Eaglebine Formation

Eaglebine Map – Amelia Resources | Click to Enlarge

Energy & Exploration is preparing for a potential $275 million public offering of shares. The company has more than 43,000 acres in Texas and Colorado and has agreed to acquire ~57,000 acres in the Eagle Ford and Woodbine from Chesapeake for $125 million. It was not disclosed if there was production associated with the acquisition. If not, the company is paying a little more than $2,000 per acre.

Energy & Exploration’s founder has a history in land work and the company decided to step into operating at the beginning of 2012. [Read more…]

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