US Energy Corp and Crimson exploration have reached another participation agreement in the Eagle Ford Shale. US Energy now has over 3,500 acres with the potential for 70 gross and more than 20 net wells in Dimmit and Zavala counties.
"This acquisition brings USE's total acreage in the Eagle Ford to approximately 11,861 gross acres (3,558.5 acres net to USE) with the potential for up to 70 gross and 21.3 net Eagle Ford drilling locations.""The prospect is in the Eagle Ford shale oil window in Zavala and Dimmit Counties, Texas. "
" 'We are pleased to announce another oil venture with Crimson Exploration. These assets complement our existing Leona River acreage and provide both U.S. Energy and Crimson with a potential multi-year drilling inventory in the Eagle Ford oil window,' stated Keith Larsen, CEO of U.S. Energy Corp. 'We look forward to drilling our first well on this acreage in the near future and to continue seeking additional Eagle Ford opportunities with Crimson as well,' he added."
Read the full press release at usnrg.com