One-Page Deal Sheet
Cardinal Picks Up Interest in Oily Permian Project
Cardinal Energy Group Inc. Not Disclosed
Announced Date
July 16,2013
Close Date
July 03,2013
Transaction Type
Property
Asset/Basin:
{Permian}
TargetZones:
{"Cook Sand (lower P
Net Acres
Transaction Details: Require Private Equity Subscription
Cardinal Energy Group Inc. signed a Definitive Agreement on July 3, 2013 completing its acquisition of the Conway-Dawson Leases located in Shackelford County in Central West Texas.
According to the terms of the agreement Cardinal now has an 85% working interest in the 618 acre field. There are currently 46 wells and one injection well located within the field. Cardinal will retain the services of the present operator who anticipates that remediating 11 of the wells over the next three weeks will increase their current production significantly. Shackelford County is known for its prolific and…
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