Exploration & Production | Deals - Joint Ventures
Treaty Outlines Latest Permian JV Project
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Treaty Energy Corporation has reported the next step in the Company's hydrocarbon exploration program in West Texas.
On May 9, 2013, Treaty Energy Corporation signed a Binding Letter of Intent (LOI) for oil exploration with U.S. Fuels, Inc. of Breckenridge, Texas.
The agreement covered approximately 1,830 acres and included five Texas leases as follows: Bridges Lease – 650 Acres in Stephens County Knott Lease – 40 Acres in Taylor County Mitchell Lease – 40 Acres in Taylor County Standard Lease – 400 Acres in Taylor County Stroebel Lease – 700 Acres in Eastland CountyIncluded in the initial announcement was the drilling of two wells (Mitchell #3 and Mitchell #4) on the Mitchell Lease. The Mitchell Lease had been assigned to Treaty Energy based on the Company's commitment to drill and…
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