Lonestar Resources Ltd. reached definitive agreements to acquire leasehold in the Eagle Ford Shale, the company said April 30.
There are about 6,122 gross (4,047 net) mineral acres in La Salle County, Texas, that are estimated by consultants to hold 2.7 million barrels (MMbbl) of liquids and 11 billion cubic feet (Bcf) of natural gas. This equates to 4.5 MMboe, Lonestar added.
Proved and probable net reserves total 6.4 MMbbl of liquids and 26.3 Bcf of natural gas, or 10.8 MMboe.
In Greater Burns Ranch in northern LaSalle County, 1,720 gross (1,225 net) acres were added. This is the third bolt-on deal the company has made since 2014. This acreage adds 33 boe/d of oil from Austin Chalk wells.
In Horned Frog in west-central LaSalle County, a farm-in agreement was made for working interest in 4,402 gross (2,822 net) acres in a contiguous block. Minimum 19 gross (12 net) horizontal wells with 8,000-foot laterals will be drilled. Proved and probable net reserves are 5.1 MMbbl of liquids and 24.7 Bcf of natural gas, or 9.2 MMboe. There are additional reserves in the 1,580 net unleased mineral acres on the block, the company said.
Lonestar will add 32 gross (20 net) horizontal Eagle Ford drilling locations with the acquisition, the company said. At year-end 2014, Lonestar held interests in 143 engineered Eagle Ford drilling locations.
Lonestar Resources Ltd. is based in Fort Worth, Texas.
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