Juneau Energy LLC announced Oct. 23 that it completed the acquisition of oil and gas properties in East Texas, consisting of roughly 20,800 net acres primarily in Houston and Leon counties. The details of the transaction weren't disclosed.
“This acquisition represents a unique addition to our asset portfolio and provides a contiguous acreage position with significant stacked pay potential in the Buda, Georgetown, Edwards, and Glen Rose formations," said Brad Juneau, CEO, in a statement.
Juneau Energy has spud its first well in the area and is impressed by recent regional results by offset operators, including Energy & Exploration Partners Inc. and EOG Resources Inc. (NYSE: EOG), he said.
"With this transaction Juneau Energy has over 40,000 acres in the East Texas Cretaceous trend,” he said.
Juneau Energy is based in Houston and Denver. The company is funded by Leucadia National Corp. and Juneau Exploration LP.
Recommended Reading
US Raises Crude Production Growth Forecast for 2024
2024-03-12 - U.S. crude oil production will rise by 260,000 bbl/d to 13.19 MMbbl/d this year, the EIA said in its Short-Term Energy Outlook.
Iraq to Seek Bids for Oil, Gas Contracts April 27
2024-04-18 - Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country.
For Sale, Again: Oily Northern Midland’s HighPeak Energy
2024-03-08 - The E&P is looking to hitch a ride on heated, renewed Permian Basin M&A.
E&P Highlights: Feb. 26, 2024
2024-02-26 - Here’s a roundup of the latest E&P headlines, including interest in some projects changing hands and new contract awards.
Gibson, SOGDC to Develop Oil, Gas Facilities at Industrial Park in Malaysia
2024-02-14 - Sabah Oil & Gas Development Corp. says its collaboration with Gibson Shipbrokers will unlock energy availability for domestic and international markets.