SOURCE: Western Production Company

April 02, 2014 15:56 ET

Western Production Company Acquires Natural Gas Wells

FORT WORTH, TX--(Marketwired - April 02, 2014) - Western Production Company, Investors Royalty, Inc. and Logos Gas Gathering North Texas, LLC are pleased to announce the acquisition of Barnett Shale gas producing reserves in Wise, Parker and Johnson Counties, Texas from Crown Exploration II, Ltd. on December 16, 2013. The transfer is effective September 1, 2013. Due diligence and title support were provided by Axia Land Services, LLC of Fort Worth (formerly of Arlington). The transaction involves 11 non-operated wells with gross daily volumes of 3.7 MMCFE and net daily volumes of 2.4 MMCFE. Paun Peters, President of Western, said, "This acquisition is accretive to our gas reserves value and precisely fits with our strategy to acquire natural gas production in nonconventional plays. It follows our previous acquisition of a package of Johnson County wells announced in March. Our primary focus areas for acquisitions onshore are the Fort Worth Basin/Barnett, the Haynesville/deep Bossier play, Fayetteville, and East Texas Cotton Valley."

Western Production Company was formed in 1979 and has been active in drilling and acquisitions for more than 3 decades. Please contact Paun Peters, President, or Bob Hyatt, Vice President, at 817-332-9041 with any questions.

Contact Information

  • Paun Peters
    President
    Bob Hyatt
    Vice President
    817-332-9041