MD America Energy LLC said March 21 it has acquired 100% of an undisclosed seller's properties in East Texas. The value of the transaction wasn't disclosed.
The acquisition includes 136 operated and nonoperated wells within about 18,400 net acres, with greater than 85% being HBP. The assets are located in Brazos, Grimes, Leon, and Madison counties, Texas.
The deal is the Fort Worth, Texas-based company's second acquisition in March, the release said. Closing is expected on March 25.
The company plans to fund the acquisition with cash provided by its parent, China-based Meidu Energy Corp.
MD America Energy's assets currently consist of about 35,000 net acres in East Texas, according to the release.
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