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…]