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Liberty Energy acquires producing oil & gas leases in Baylor County, Texas


Published Apr 9, 2014
Liberty Resources Limited

Liberty Energy Corp. has acquired 4 oil & gas producing Baylor County leases.

The transaction covers 1,038 acres with 17 oil wells, 4 injection wells and related surface production equipment. Average production of 3-4 Barrels of Oil Per Day (BOPD) from operating wells is anticipated before any additional cleaning or remedial work is performed. The leases provide 100% Working Interest and 70-75% Net Revenue Interest (NRI) for the Company in exchange for seller financing, a carried 5% ORR and $50,000 in restricted stock.

During the closing period the operator advanced field work including replacing mechanical down hole pumps, replacing pump jack motors, upgrading a water injection pump and stabilizing needed pump jack platforms.

Tags: Liberty Energy




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