• Torchlight Energy Resources, Inc. TRCH
  • Stratex Oil & Gas Holdings Inc. $STTX
  • LBYE
  • HII Technologies
 
 

Warren Resources, Inc. $WRES Announces Acquisition of the Marcellus Assets of Citrus Energy Corporation for $352.5 Million

07 Jul 2014

Warren Resources, Inc. ("Warren" or the "Company")WRES +5.46% today announced that it has executed a purchase and sale agreement to acquire essentially all of the Marcellus assets of Citrus Energy Corporation ("Citrus") and two additional working interest owners for $352.5 million. As part of the total consideration, Warren will issue $40 million in Warren common stock priced at $6.00 per share, with the remainder to be funded through fully committed debt financing. This acquisition provides Warren with a substantial new basin platform in the prolific Marcellus Shale and adds a new core area to Warren's existing California oil and Wyoming natural gas assets.

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Mississippi Lime 2014 – How Long Until The Code Is Officially Considered Cracked? – $SD $PTRC

21 Jun 2014

By Devon Shire

If any company makes a significant improvement that improves profitability, all of the companies will adopt that improvement and benefit.

Along those lines a recent announcement from Miss Lime focused Petro River Oil (OTCQB:PTRC) caught my attention. Petro River announced the acquisition of Spyglass Energy Group which has 106,000 contiguous acres in the Miss Lime in the county of Osage Oklahoma.

The following blurb from the announcement was what I found especially intriguing:

Shane Matson, President of Bandolier, commented, "I have worked in this region and on the Pearsonia West asset for a dozen years and following our recent drilling results – wells with IPs as high as 900 BOPD from short laterals – we have cracked a significant component of the code for stimulation of tight Mississippian reservoirs of the Mid-Continent. The size and continuity of this asset allows a great deal of flexibility to continue developing it while seeking industry partners to develop this acreage alongside us.

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