Sundance Energy Australia Ltd. said on Aug. 1 that it closed the acquisition of additional Eagle Ford Shale assets in McMullen County, Texas.
The transaction closed July 29, and included 27 gross (9.6 net) wells, primarily operated by Sundance, with expected production of 600 barrels of oil equivalent per day (boe/d) to 700 boe/d for the remainder of 2016.
There are total proved reserves of 3 MMboe, 1.4 MMboe of which are attributed to producing wells, Sundance said.
Sundance funded the $15.5 million cash purchase price with proceeds from a recently completed capital raise.
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