One-Page Deal Sheet
West Texas Resources Picks Up Palo Duro Basin Prospect
West Texas Resources, Inc. Not Disclosed
Announced Date
August 21,2014
Close Date
August 21,2014
Transaction Type
Working Interest
Location
Country
United States
State
Texas
County
Hale
Transaction Details: Subscribe to see
West Texas Resources, Inc. has announced the acquisition of a 50% working interest in an oil and gas prospect located in the Palo Duro Basin in Hale County, Texas.
In June and July 2014, the Company acquired non-operating leases covering approximately 1,070 gross mineral acres leases in the Palo Duro Basin.
The leases have a primary term of five years with a Company option to extend the term for another five years. The leased properties are oil and gas prospects in the Atoka Shale and Wolfcamp Shale, for which West Texas Resource holds a 50% working interest and a 40% net revenue interest…
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