Texas American Resources Co. LLC received up to $250 million in private equity from First Reserve to support Eagle Ford Shale oil development, according to a Dec. 19 press release.
Concurrent with the closing of First Reserve's investment, Texas American acquired an initial leasehold position in the Eagle Ford’s black oil window in Atascosa County, Texas, covering about 12,000 acres. Development drilling will begin in the first quarter of 2017.
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