Northcote Energy has snapped up all rights for the Shoat Creek field in Louisiana from its partner Springer Oil.
Springer has sold Northcote all rights, title and interest in its proportionate interest in the Wilcox unit and all related assets for $150,000.
Springer had a 15% working interest in the Wilcox unit, which includes 144 net barrels of oil per day.
Northcote now owns roughly a 50% working interest in the Wilcox Unit.
Managing Director Randall Connally said: “Consolidating this additional interest in the Wilcox unit will allow us to more effectively work with our partner, Indigo Minerals, on future development activities in this deeper high impact formation at Shoats Creek.”
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