Lonestar Resources is an independent operator with assets in Barnett, Bakken, and Eagle Ford shale plays. The company has over 5,000 acres prospective for the Eagle Ford spread across Dimmit, La Salle, and Wilson counties.
The company made offers for Eureka Energy earlier in the year, but bowed out as Aurora Oil & Gas increased its bid. The company is now being acquired by an Australian company, Amadeus Energy.
Amadeus is a public company that was created by Ecofin Water & Power Opportunities for the sole purpose of seeking oil & gas investment opportunities.
“We believe this will create a company with a significantly more compelling investment proposition…and the potential for substantial future earnings growth from both existing assets and new acquisitions,”
Amadeus chairman Craig Coleman said. The new company will change its name to Lonestar Resources and we expect the well capitalized operator to speed up the pace of development in the Eagle Ford.