Lonestar acquires Eagle Ford acreage

Lonestar Resources US Inc, Fort Worth, said it has identified 26 drilling locations in the Late Cretaceous Lower Eagle Ford formation on acreage it acquired in Sugarkane field from Sabine Oil & Gas Corporation, Houston, and an affiliate and Alerion Gas AXA LLC.

Lonestar paid US$38.7 million for 3,084 gross (2,706 net) acres in the DeWitt County, Texas, field.

The acquired properties, 95% operated, produce 800 boe/d from 20 wells.

Lonestar said the acreage has further drilling potential in Upper-Lower Eagle Ford, Upper Eagle Ford, and Austin Chalk.

Source: Oil & Gas Journal