Westside Energy Corp., an oil and gas company with operations focused on the acquisition, exploration and development of natural gas in the Barnett Shale play in North Texas, has entered into a joint exploration agreement with a large U.S.-based independent oil and gas producer for the purpose of jointly drilling and developing approximately 17,000 gross (13,600 net) acres in Hill County, Texas. The two companies will assign to each other 50% interests in certain of their respective acreage positions and will each act as the operator for wells drilled on their respective assigned acreage. The rig for the first joint well has commenced drilling.
“We are excited to have increased our exposure in Hill County to approximately 17,000 acres,” said Douglas G. Manner, Westside’s CEO. “Our multi-well, Hill County drilling program was kicked off by the recent spudding of the Westside-operated Primula #1 horizontal well.”
Houston-based Westside Energy is an oil and gas company focused on developing its 83,393 gross (66,139 net) acres in the prolific Barnett Shale trend in North Texas.