WildHorse Jumps To Eagle Ford Shale With Louisiana Asset Sale

Feb 12 21:02 2018 Print This Article

WildHorse Resource Development Corp. (NYSE: WRD) will sell its northern Louisiana assets for more than $200 million as the E&P shifts to a pure-play Eagle Ford Shale strategy—underscored by the announcement of a smaller bolt-on deal in South Texas.

WildHorse, the second largest leaseholder in the Eagle Ford leasehold, said Feb. 12 it agreed to sell 90,000 net acres in Webster, Claiborne, Lincoln, Jackson and Ouachita parishes in North Louisiana for $217 million. During the next four years, contingency payments could bring in an additional $35 million based on the number of wells spud by the buyer.

In fourth-quarter 2017, the Louisiana assets averaged production of about 46.9 million cubic feet equivalent per day of gas (cfe/d).

The buyer was not disclosed.

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OilandGasInvestor.com is your complete source for information about the financial world of oil and gas. An interactive, searchable version of Hart Energy Publishing's Oil and Gas Investor Magazine, this site also provides online content from OGI This Week and A&D Watch. In addition to providing daily analysis of trends and industry events, their editors interpret the news to highlight opportunities for investors. Since 1973, the company has been recognized for its expert coverage of the global energy industry through its highly respected, award-winning magazines, newsletters and directories, conferences, consulting services and online resources. With representation in the upstream, midstream, and downstream sector, Hart Energy takes the lead in providing original and timely data through its numerous products and services.

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