One-Page Deal Sheet
Indigo Picks Up Cotton Valley Assets; Plans Development
Indigo Natural Resources LLC Preston Exploration
Announced Date
January 06,2014
Close Date
January 06,2014
Transaction Type
Property
Asset/Basin:
{"Cotton Valley"}
TargetZones:
{"Cotton Valley"}
Net Acres
Location
Region
Ark-La-Tex
Country
United States
State
Texas
Play
Production Production
Transaction Details: Require Private Equity Subscription
Houston-based Indigo Minerals LLC has purchased Preston Exploration’s East Texas Cotton Valley assets located in Harrison, Panola, Rusk and Upshur counties, Texas.
The assets include 39 vertical wellbores with net production of ~3 mmcfepd.
Along with the wells, Indigo acquired an acreage position of approximately 12,200 net acres, the majority of which is held by production. Indigo estimates that these East Texas properties contain 30+ horizontal Cotton Valley locations and plans to move a rig onto the assets in Q1 2014 in order to further develop these wet gas reserves.
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