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.