One-Page Deal Sheet
Torchlight to Join Ring Energy for Mississippi Lime Development
Torchlight Energy Resources, Inc. Ring Energy Inc.
Announced Date
October 17,2013
Effective Date
October 16,2013
Transaction Type
JV
Asset/Basin:
{Mid-Continent,"Mississippi Lime"}
TargetZones:
{"Mississippian (Mis
Net Acres
Transaction Details: Subscribe to see
Torchlight Energy Resources, Inc. has signed a joint venture (JV) agreement with Ring Energy, Inc. to acquire a 50% working interest on 17,000 acres of highly prospective oil fields in Gray, Haskell and Finney Counties, Kansas.
The transaction increases Torchlight's acreage in the Kansas plays to over 35,000 gross acres. Torchlight expects to finance drilling on 10 wells in the next 6 to 7 months to earn into the full 50% working interest. Ring Energy and Torchlight expect to commence operations on five wells in the fourth quarter of 2013.
This area of southwestern Kansas has been a prolific…
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