One-Page Deal Sheet
Evolution Petroleum Enter Mississippi Lime Play
Evolution Petroleum Corp. Not Disclosed
Announced Date
April 23,2012
Transaction Type
JV
Transaction Details: Subscribe to see
Evolution has entered into a Joint Venture Agreement (JVA) to develop the Mississippian Lime formation in 38 sections covering more than 24,000 gross acres in Kay County, Oklahoma. Through forced pooling, the 11,700 net acres held by the JVA potentially could be expanded by a portion of the remaining gross acres within the sections.
Evolution is contributing upfront cash and a drilling carry to earn its 45% non-operated share of the joint venture. Because the partners in the JVA are in advanced discussions with landholders to add acreage, no financial terms were disclosed.
The joint venture…
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