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Crude Energy acquires 50 percent Working Interest in 3,680 acres in Texas.

International Resource News-April 3, 2014--Crude Energy acquires 50 percent Working Interest in 3,680 acres in Texas

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International Resource News - 03 April 2014

Crude Energy LLC, a United States-based exploration and production company, has acquired a 50 percent Working Interest in 3,680 acres located in Sterling County, Texas.

The acreage is situated in north western Sterling County in an area with multiple pay zones

Parker Hallam, president of Crude Energy, said, 'We have been looking for Permian acreage in the Wolfcamp trend that is managed by a top-quality operator and we finally found it with this deal.' Hallam added, 'This Permian Basin and specifically this Wolfcamp play is one of the most prolific oil and gas producing areas on the planet and Crude is now centered in the heart of the play which could contain in excess of 50 billion barrels of oil.'

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Publication:International Resource News (IRN)
Geographic Code:1U7TX
Date:Apr 3, 2014
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