Privately held, Tomball, Texas-based JBL Energy Partners plans to sell its interest in approximately 23,000 acres in Leon County, Texas, within the prolific Woodbine play, to an undisclosed buyer for an undisclosed price.
The sale would include all oil, gas and mineral rights currently owned by JBL and its partners with the acreage position, to a large independent exploration and production company.
Jason Lane, chief executive of JBL Energy Partners, says, “We are currently working multiple projects in both East Texas and the Gulf Coast region, which we plan to further develop using the proceeds from this potential sale. Having been acquiring and developing early stage oil, gas and mineral plays in the East Texas basin for over ten years, I am very excited about JBL’s future prospects in the region.
The deal is expected to close on or about June 15.
Recommended Reading
Which Haynesville E&Ps Might Bid for Tellurian’s Upstream Assets?
2024-02-12 - As Haynesville E&Ps look to add scale and get ahead of growing LNG export capacity, Tellurian’s Louisiana assets are expected to fetch strong competition, according to Energy Advisors Group.
EQT, Equitrans to Merge in $5.45B Deal, Continuing Industry Consolidation
2024-03-11 - The deal reunites Equitrans Midstream Corp. with EQT in an all-stock deal that pays a roughly 12% premium for the infrastructure company.
From Tokyo Gas to Chesapeake: The Slow-burning Fuse that Lit Haynesville M&A
2024-03-01 - TG Natural Resources rides the LNG wave with Rockcliff deal amid shale consolidation boom.
EQT, Equitrans Midstream to Combine in $5.5B Deal: Reports
2024-03-11 - EQT Corp.'s deal would reunite the natural gas E&P with Equitrans Midstream after the two companies separated in 2018.
Chesapeake-Southwestern Deal Delayed Amid Feds Scrutiny of E&P M&A
2024-04-05 - The Federal Trade Commission asked Chesapeake and Southwestern for more information about their $7.4 billion merger — triggering an automatic 30-day waiting period as the agency intensifies scrutiny of E&P deals.