Dallas-based Gulf Coast Western has acquired the assets of Louisiana-based Orbit Energy Partners.
The acquisition includes proprietary rights and access to hundreds of square miles of 3D seismic data in Southwestern Louisiana, working interests in 13 producing wells and 140 defined drilling locations with approximately 30 million barrels of oil equivalent of total reserve potential.
Gulf Coast Western plans to maximise production potential with 18 additional PUD-designated offset wells. Development plans also include two workover wells.
Chief executive Matthew Fleeger said: “We are very pleased with the opportunity that this acquisition provides for our company and our partners and we look forward to identifying further development opportunities as a result of this acquisition.”
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