One-Page Deal Sheet
Merrion, LOGOS Join Forces for San Juan Basin Development
LOGOS Resources II Merrion Oil Gas Corp
Announced Date
May 30,2014
Close Date
May 30,2014
Transaction Type
JV
Asset/Basin:
{"San Juan Basin"}
TargetZones:
{Gallup,Mancos}
Net Acres
Transaction Details: Require Private Equity Subscription
LOGOS Resources, LLC and Merrion Oil & Gas Corp. have entered into a strategic joint venture in the San Juan Basin of New Mexico on over 20,000 gross acres of Merrion’s existing leasehold.
Under the terms of the JV, LOGOS will initially operate the assets and have the option to purchase up to 70% of Merrion’s leasehold. LOGOS and Merrion will work together to develop the assets with initial drilling efforts focused on the Gallup / Mancos oil play.
According to T. Greg Merrion, President of Merrion Oil & Gas Corp., “We are very excited about partnering with LOGOS to actively develop our…
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