Acquisition of oil and gas production in US

MOORE Energy AS (MOORE) is pleased to announce that it has finalised its first acquisition of oil and gas leases in Texas (US).

The company has signed an agreement with a local operator for acquisition of 25% working interests (WI) and 20% net revenue interest (NRI) in the Robertson Deats C lease and 20% WI and 14% NRI in the Bright lease. Both leases are located in Jack County in the Bend Arch-Fort Worth Basin. Gross production is approximately 20 boepd at low operating cost.

Lars Johan Frigstad, CEO of MOORE, said: “We are delighted to partner with a local operator with in-depth knowledge of this particular area in the Bend Arch-Fort Worth Basin and who shares MOORE’s view of developing a portfolio of oil and gas producing assets in this region”.

MOORE is a private Norwegian independent E&P company with focus on conventional resources onshore France/Europe and Texas/US. The company has secured a unique position in Alsace with three exploration licenses covering an area of 1,000 km2 and has two oil and gas leases in the Bend Arch-Fort Worth Basin NW of Dallas, Texas.