Exploration & Production | Deals - Joint Ventures | Top Story
Stratex, Eagleford Energy Team Up for Eagle Ford Well Project
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Stratex Oil & Gas Holdings, Inc. has entered into a Joint Development Agreement with Eagleford Energy, Inc., and its wholly owned subsidiary, Eagleford Energy, Zavala Inc.
Pursuant to the JDA, Eagleford Zavala granted Stratex the exclusive right to operate and develop approximately 2,549 leasehold acres under a certain Lease, located in Zavala County, Texas, situated within the established oil rim of the Eagle Ford Shale play. Eagleford Zavala has a 100% working interest and a 75% net revenue interest (NRI) in the Lease.
Pursuant to the JDA, on or prior to March 31, 2014, the Company has agreed to complete, or cause to be completed, the hydraulic fracturing of the Matthews #1H well, and to pay all future costs associated therewith. Eagleford originally drilled the Matthews #1H in October…
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