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

ZaZa Energy Continues Laying Groundwork for Eagle Ford Growth

ZaZa Energy CEO Takes $1 Dollar Salary for Two Years
Eagle Ford & Eaglebine Map

Eagle Ford & Eaglebine Map | Click to Enlarge

ZaZa’s first quarter 2014 average combined production in the Eagle Ford (South Texas) and Eaglebine (East Texas) was 630 boe/d. 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 production came from the Eaglebine.

Read more: ZaZa Selling Eagle Ford Assets to Sanchez Energy For $28.8 Million

During the first-quarter, the company continued to position itself for growth across its portfolio. In May of 2014, ZaZa announced that its CEO, Todd Brooks, will be taking a salary of $1 dollar for the next two years. During that time frame, Brooks’ compensation will consist of equity grants or other equity-related compensation.

[Read more…]

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…]

ZaZa Energy Signs Eagle Ford JV In DeWitt County

Recent JVs and Asset Sales Provide Liquidity and a Platform for Production Growth
ZaZa Energy Sweet Home DeWitt County Eagle Ford Acreage

ZaZa Energy’s Sweet Home – DeWitt County Eagle Ford Acreage | Click to Enlarge

ZaZa Energy has agreed to a joint venture (JV) with a private operator on “non-core” acreage in DeWitt County.

The private company will receive a 75% net revenue interest in 7,600 net acres and has committed to carry ZaZa’s costs for drilling two horizontal wells before April 15, 2014. The property includes 12 “high graded” development units in an area where ZaZa has ~23,000 net acres. [Read more…]

EOG Accelerates Eaglebine JV With ZaZa by Electing Into Phase II

Phase III Election Timeline Moved From January 2015 to January 2014
ZaZa Energy Eaglebine Map

ZaZa Energy Eaglebine Map | Click to Enlarge

EOG Resources joint venture with ZaZa in the Eaglebine is moving into phase two of three. EOG is expected to complete the first three wells this year and was expected to elect into phase two in early 2014. Instead, the company has accelerated its plans.

The deal includes several forms of consideration, so we’ll break it out by company: [Read more…]

ZaZa Energy CEO Buys Shares To Fund Eagle Ford Acquisitions

Private Equity Placement Raises $1.38 Million

ZaZa Energy’s CEO acquired 1.5 million shares worth $1.38 million in a private placement of common stock. The money will be used to fund acreage acquisitions in the company’s eastern Eagle Ford and Eaglebine regions. [Read more…]

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