Loreto Resources and Eagleford Energy have come to an agreement on a potential joint venture. Loreto will have the opportunity to earn a 50% working interest on two leases in Zavala County, TX.
In Petrohawk’s Q2 conference call, the company announced it was suspending drilling operations at Red Hawk in favor of other producing areas. Read more in our post titled: Petrohawk Abandons the Red Hawk Field. Watch to see if Loreto Resources and Eagleford Energy are able to make a commercial play in Zavala County. Secondary formations such as the Austin Chalk and Buda may become the primary drilling targets. [Read more…]