Eagleford Energy – Stratex Enter JV on Zavala County Eagle Ford Acreage

Stratex Pays $300,000 and Will Pay to Complete the Matthews #1H in Zavala County
Eagleford Energy Matthews Lease Location

Eagleford Energy Matthews Lease Location | Click to Enlarge

Eagleford Energy has entered a joint development agreement with Stratex Oil & Gas on the 2,629-acre Matthews Lease in Zavala County.

Stratex will pay for the completion of the Matthews #1H and assume necessary payments to maintain the Matthews Lease.

Stratex paid $150,000 to the lessors in early December and will pay an additional $150,000 to Eagleford Energy to earn the right to participate in the lease. [Read more…]

Strike Energy JV Adds Eagle Ford Acreage

Strike Energy now holds over 6,200 net acres across southern Fayette County and Lavaca County. Drilling will start sometime in the fourth quarter or early 2012.   [Read more…]

Exxon – Rosneft Trade Artic Oil for Eagle Ford Interest?

ExxonMobil agrees to enter a partnership with the Russian oil & gas giant Rosneft in the Artic and Black Sea in exchange for a development carry and the potential to participate in Exxon’s tight oil assets in Texas. Is it the Eagle Ford? Exxon has been tight lipped when it comes to the Eagle Ford and this might be the first indication that the company has a material position in the play. XTO was leasing in South Texas when the company was acquired by Exxon in 2010. XTO had built a significant producing position through the acquisition of Dominino Resource’s South Texas properties not long before it was acquired itself. The assets were largely producing and acreage was held by production. That luxury is likely the reason we have not seen Exxon add as many rigs in South Texas as other operators.

I’ll update this post as more details emerge. [Read more…]