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Hawkwood Close East-Texas Eagle Ford Acquistion

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   |    Thursday,March 09,2017

[Summary : Warbug Pincus, Ontario Teachers Pension Plan-backed Hawkwood Energy has completed its $500 million Southeast Texas acquisition of Burleson and Brazos counties from Halcon Resources ]

Hawkwood Energy, LLC, an independent oil and gas company primarily focused in East Texas, has closed its previously announced acquisition of producing and non-producing assets from subsidiaries of Halcon Resources for $500 million less customary purchase price adjustments.

The transaction had an effective date of January 1, 2017.

The acquired assets include approximately 81,000 net acres primarily located in Burleson and Brazos counties,

with current gross production of 9,200 Boe/d (80% oil) from 170 wells producing primarily from the Eagle Ford formation.

The leasehold position is approximately 80% held by production and 90% operated.

With the completion of this transaction, Hawkwood’s gross East Texas production will be approximately 14,500 Boe/d (83% oil) from 260 wells in the Eagle Ford, Woodbine, Austin Chalk and Buda formations.

Hawkwood will control more than 180,000 net acres and over 1,000 commercial drilling locations in the Eagle Ford and Woodbine formations.

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