To acquire W. TX projects in Haskell, Shackelford, Jones counties with 38 wells (14 producing); 50 PUDs.
EGPI Firecreek Inc., Scottsdale, Ariz., (OTCBB: EFIR) plans to acquire West Texas oil and gas projects from Texas-based Templar PetroConsultants for an undisclosed price. The assets include wells and field operations in Haskell, Shackelford and Jones counties, consisting of 38 wells, 14 of which are producing, with 24 shut-in wells that can be brought back into production. There are more than 50 proved undeveloped or upside locations to be drilled. Templar will be the operator and minority partner. EGPI chairman and chief executive Dennis Alexander says, "The economic climate presents many vigorous growth opportunities for those who can build upon a new infrastructure. We look forward to paving the way by establishing new growth, assets and revenues for the company through our ongoing pursuit for new oil-producing properties."