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Milagro Exploration Acquires North Texas Oil Wells

Not Disclosed Ram Energy Resources, Inc.
AnnouncedNov 2, 2010
TypeProperty
Announced Date
November 02,2010
Effective Date
October 01,2010
Close Date
December 08,2010
Transaction Type
Property
Enterprise Value (EV)($MM)
44




Snapshot
Asset/Basin:
{"Fort Worth Basin","Barnett Shale"}
TargetZones:
{"Barnett Shale","Be
Location
Country
United States

State
Texas


Transaction Details:  Subscribe to see

Oil and gas firm Milagro Exploration LLC said Tuesday it had acquired about $43 million worth of assets from RWG Energy Inc., a subsidiary of RAM Energy Resources Inc., including oil wells in north Texas.
Houston-based Milagro, which operates primarily along the Gulf Coast and in Oklahoma, purchased 118 wells in Wise County and Jack County northwest of Dallas. The wells have combined proven reserves of about 4.3 million barrels of oil equivalent.
James Ivey, executive vice president and chief financial officer of Milagro, said the purchase would “broaden our geographic footprint” and help the…

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