Sundance Energy announced yesterday that they have closed on the purchase of Eagle Ford Shale assets in McMullen County, Texas.
Australia’s Sundance Energy closed on the deal July 29th as part of a major growth strategy focusing on the Eagle Ford. The $15.5 million transaction included 27 gross (9.6 net) wells. Other details include:
- 5050 Acres in McMullen County Texas
- Total proved reserves of 3 MMboe, 1.4 MMboe of which are attributed to producing wells
- Expected production of 600 barrels of oil equivalent per day (boe/d) to 700 boe/d for the remainder of 2016
The is the third venture for Sundance in the Eagle Ford. The company also operates Choke Canyon Reservoir located in McMullen, Live Oak and Atascosa Counties and the Redemption Project located in Dimmit County. Before the announcement of this purchase, Sundance reported on their website that they held ~40,000 net acres in the Eagle Ford.
Sundance has other projects in South Texas including Choke Canyon Reservoir located in McMullen, Live Oak and Atascosa Counties and the Redemption Project located in Dimmit County.