SOURCE: Western Production Company

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May 31, 2013 00:00 ET

Western Production Purchases Properties

FORT WORTH, TX --(Marketwired - May 31, 2013) - 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 the lean gas fairway in northern Johnson County, Texas from undisclosed sellers on March 15, 2013. The transfer is effective January 1, 2013. Due diligence and title support were provided by Axia Land Services, LLC of Arlington. The transaction involves 9 operated and 15 non-operated wells with gross daily volumes of 13.4 MMCF and net daily volumes of 2.6 MMCF. 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.  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.

Contact Information

  • Contact:

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