Juneau Energy LLC announced Oct. 23 that it completed the acquisition of oil and gas properties in East Texas, consisting of roughly 20,800 net acres primarily in Houston and Leon counties. The details of the transaction weren't disclosed.
“This acquisition represents a unique addition to our asset portfolio and provides a contiguous acreage position with significant stacked pay potential in the Buda, Georgetown, Edwards, and Glen Rose formations," said Brad Juneau, CEO, in a statement.
Juneau Energy has spud its first well in the area and is impressed by recent regional results by offset operators, including Energy & Exploration Partners Inc. and EOG Resources Inc. (NYSE: EOG), he said.
"With this transaction Juneau Energy has over 40,000 acres in the East Texas Cretaceous trend,” he said.
Juneau Energy is based in Houston and Denver. The company is funded by Leucadia National Corp. and Juneau Exploration LP.
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