Sundance Energy Australia announces Eagle Ford transactions
Sundance Energy Australia
Limited has acquired additional working interests in 23 gross (1.5 net) producing wells and 1,449 gross (130 net) acres in McMullen County, Texas for USD7.1 million. As of the effective date of the transaction production from these wells, net to the acquired interests, was averaging approximately 300 boepd. Sundance currently operates 12 of the acquired wells.
In a separate transaction, the Company divested an acreage block containing 3,336 gross (2,709 net) acres located in Atascosa County, Texas. The Eagle Ford acreage was undeveloped and outside the Company’s core development project area. Sundance received cash proceeds of $ 7.1 million for the acreage.
These transactions were closed on 21 and 22 December 2016, respectively.