One-Page Deal Sheet
Archer Petroleum to Farm In at 3 Wells in Ballinger, TX
Archer Petroleum Cardiff Energy Corp.
Announced Date
December 08,2014
Transaction Type
Farm-In/Farm Out
Transaction Details: Subscribe to see
Archer Petroleum Corp. has announced that the Company and Cardiff Energy Corp have executed a non-binding Letter of Intent to earn a 25% Working Interest on a 3 well drilling program in Ballinger, Texas.
On November 25, 2014 Cardiff announced initial production rates of 180 barrels per day and 250,000 cubic feet of gas on the Bearcat #4 well in Ballinger. The 3 well drilling program will be located within Cardiff's 468 acre leasehold, and the parties will use best efforts towards completing a definitive Participation Agreement upon completion of due diligence by Dec 15th, 2014.
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| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
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