Monday, May 19th, 2014 and is filed under Oil and Gas Current Events, Texas Oil and Gas Investing
(Dallas, Texas) –– Aresco LP, a privately held Dallas-based exploration and production company, announced today the purchase of non-operated working interest positions in three producing wells located in Tyler and Madison Counties, Texas. The Brazos Basin wells are operated by Halcón Resources and are currently producing a combined ~227 gross barrels of oil per day per 90-day trailing average.
“Our strategy of using our operational expertise to select and partner with experienced operators has proven effective in building a solid asset base,” said Brandon Laxton, President and CEO of Aresco LP. “Since applying this methodology, Aresco has grown to include assets in five counties across Texas and into New Mexico. These assets not only provide revenue today, they set the stage for additional development opportunities for decades to come.”
Tyler and Madison Counties sit atop the Brazos Basin, which features a mix of Woodbine sands and Eagle Ford shale production potential. The Brazos Basin lies at the southern edge of the historic East Texas Basin in southeast Texas. While conventional oil producers have targeted the East Texas Woodbine sands for decades, modern unconventional technology is unlocking additional production potential as operators explore deeper, shale-like rock. The Halcón well production is the first of several potential acquisitions Aresco is pursuing specifically in the Brazos Basin.
About Aresco LP
Aresco LP is a privately held exploration and production company actively engaged in developmental drilling, mineral leasing, and production acquisitions in conventional and unconventional oil plays throughout Texas, Oklahoma and New Mexico. The company specializes in production-driven projects designed to provide income stability and strong growth potential. Aresco’s asset portfolio provides a strong balance of ownership positions in rapidly developing conventional formations and development projects in proven oilfields with decades of active drilling and production. To learn more, please visit www.arescotx.com.
This is not an offer to sell nor solicitation of an offer to buy any security. Such offer may only be made by a written prospectus in a jurisdiction wherein the offering is duly registered or exempt therefrom. This content is provided for informational purposes only. Nothing herein shall be construed as tax, legal, or accounting advice. Investing in oil and gas is highly speculative and could result in substantial losses. There are no guarantees that any returns will be achieved. Potential investors should consult their attorney, accountant, and financial advisors before investing in oil and gas.
© Copyright 2024 Aresco, LP. All rights reserved. | Privacy Policy | Site by A3K Marketing. Admin Log in
