Cross Timbers Oil Co., Fort Worth, plans to acquire primarily gas-producing properties in Louisiana and East Texas from Herd Producing Co. Inc., Tyler, Texas, for $115 million. The properties are in Freestone, Limestone and Robertson counties, Texas, and Claiborne and Union parishes, La. Energy Corp. of America has purchased properties in Kentucky and West Virginia from Penn Virginia Corp., Radnor, Pa., for $59.4 million. The properties were estimated to contain 70 billion cu. ft. equivalent of proved reserves and currently produce 7 million cu. ft. of gas per day. Michael Petroleum Corp., Houston, has acquired interests in 72 producing wells and 22,500 acres in the Lobo Wilcox Trend, Webb County, Texas, from Oklahoma City-based OGE Energy Corp. subsidiary Enogex Exploration , for $7.5 million. Sixty-one of the 72 wells are operated by MPC. Total proved reserves for the acquisition are estimated at 16.6 billion cu. ft. equivalent, of which 36% are proved developed reserves.
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