Hawkwood Energy Acquires Additional Assets In East Texas
Denver, CO – May 19, 2016 – Hawkwood Energy, LLC (“Hawkwood”) announced today that its wholly-owned subsidiary Hawkwood Energy East Texas, LLC, an independent oil and gas company primarily focused in East Texas, has acquired producing and non-producing assets primarily in Leon and Madison counties in Texas. Terms of the transaction were not disclosed.
The newly acquired assets consist of producing wells with combined production of approximately 500 barrels of oil per day (“bopd”) primarily from the Eagle Ford zone, along with significant undeveloped leasehold. The properties are immediately contiguous and complementary to Hawkwood’s existing East Texas properties. With the addition of the newly-acquired properties, Hawkwood produces approximately 4,000 bopd from 76 wells, which includes Woodbine, Buda, and Eagle Ford production, and holds in excess of 100,000 net acres of undeveloped leasehold primarily prospective for Woodbine and Eagle Ford.
“We are excited to acquire these high quality assets to further build our strong position in the East Texas Woodbine and Eagle Ford plays,” said Patrick Oenbring, Chairman and Chief Executive Officer of Hawkwood. “These new assets provide us with expanded opportunities to leverage our low cost operating infrastructure and Eagle Ford and Woodbine technical expertise to create value. We continue to seek additional similar opportunities to acquire quality assets to add to our East Texas position. We plan to operate these new assets with the same uncompromising approach to safety, the environment, and community relations that we have employed since we commenced operations in East Texas in July 2014.”
Hawkwood Energy, LLC is a Denver-based independent upstream oil and gas company. Hawkwood commenced operations in 2012 and is funded with a line-of-equity commitment of $500 million from lead investors Warburg Pincus and Ontario Teachers' Pension Plan. For more information, visit www.hawkwoodenergy.com.