One-Page Deal Sheet
PetroEdge Farms-In to Woodbine Maness Project; Becomes Operator
Petroedge Energy Iii Llc Carr Resources Inc.
Announced Date
October 10,2013
Close Date
October 10,2013
Transaction Type
Farm-In/Farm Out
Asset/Basin:
{"Gulf Coast - Southeast Texas","East Texas Woodbine"}
TargetZones:
{"Woodbine Shale (Ma
Net Acres
Transaction Details: Require Private Equity Subscription
Carr Resources Inc. has closed an agreement with PetroEdge Energy III LLC on approximately 18,000 acres of Woodbine (Maness) Shale acreage.
Carr retained a 25% working interest in the leases.
Petro Edge will become the operator of the property and drill its first horizontal Woodbine (Maness) Shale well in the fourth quarter of 2013. The play was developed by Carr’s geologist Rich Adams based in part on earlier 2007 drilling by Carr with Winn Exploration Co., Inc. Based on the experience and regional mapping of Carr and Adams in the region, Adams identified the core of the play and leasing…
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