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Private E&P Puts Eagle Ford Asset on the Market
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VirTex Operating Company, Inc. is placing one of its properties on the market by announcing the divestment of its interest in approximately 34,000 acres of prime Eagle Ford Shale assets in Webb and LaSalle Counties, Texas. The assets comprise VirTex's 25% working interest in a venture with BP.
Dale Phipps, President of VirTex, says, "The venture has the largest amount of recoverable natural gas and oil he has seen in his 30-year career and represents a very rare buying opportunity for such long-term, high-return assets."
Eagle Ford wells in this venture are producing from both the lower and upper Eagle Ford Formations and recoveries may exceed 12 billion cubic feet per well. As in most areas of the Eagle Ford Shale, recent testing has shown the need for tighter density drilling thereby…
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