Eagle Ford O&G Inks LOI for Tx. Acreage
Eagle Ford O&G has signed a letter of intent for the acquisition of a 10% working interest in 3,600 acres in Wilson County, Texas. The property has 42 Eagle Ford Shale locations with additional drilling opportunities. The first development well is scheduled for November, 2010.
Eagle Ford Oil & Gas President Rick Adams commented, "This acquisition represents both another step in the execution of our business strategy as well as a major expansion of our reserve position through the oil leg of the Eagle Ford Shale. We expect the development of this field to greatly enhance our growth potential over the next two years. We continue to seek out and take advantage of drilling and lease acquisition opportunities in the Eagle Ford Shale."