WildFire Energy creates largest consolidated acreage position in Eagle Ford with new acquisition
(WO) — WildFire Energy acquired approximately 377,000 net acres and approximately 1,350 wells in the Brazos Valley region of its Eagle Ford asset from Chesapeake Energy Corporation. With the acquisition, WildFire will operate approximately 2,000 gross wells on approximately 600,000 net acres in the eastern Eagle Ford encompassing Burleson, Brazos, Robertson, Madison, Lee, Washington, and Grimes counties of Texas.
The acquired Brazos Valley acreage had an average net daily production of approximately 27,700 boe (85% liquid) during the third quarter of 2022. As of December 31, 2021, net proved reserves associated with these properties were approximately 96.8 MMboe.
"This acquisition is highly synergistic with our existing assets and the combined size of the overall business positions WildFire Energy as a leading operator in the Eastern Eagle Ford basin. The consolidation of 600,000 contiguous acres is transformative to the business and will drive economies of scale to deliver more high-margin barrels to the advantageous Gulf Coast market," said Steve Habachy, President and COO of WildFire Energy.
WildFire Energy is an independent energy platform company formed to acquire and optimize production-weighted oil and gas assets and is led by Anthony Bahr, CEO, Steve Habachy, President/COO, and Drew Cozby, CFO.