HOUSTON, TX / ACCESSWIRE / December 14, 2016 / TEXEGY LLC (the "Company") announced it closed an agreement with Swift Energy Company (OTCQX: SWTF) acquiring the remaining share of Swift's holdings in the South Bearhead Creek Field and Burr Ferry Field areas located in Central Louisiana (the "Properties").
The acquisition is the third for TEXEGY LLC since October 2014. It falls in line with the Company's vision to acquire conventional assets in Texas and Louisiana. TEXEGY now serves as the principal operator of the Properties, conducting majority of all drilling, completion, and production operations.
TEXEGY LLC was formed in the fall of 2014 to acquire, operate, and develop producing conventional oil and gas properties in Texas and Louisiana. This acquisition includes oil-weighted properties in the Burr Ferry and South Bearhead Creek fields in Louisiana, as well as 62,000 acres of mineral servitude.
Michael S. Pedrotti, President of TEXEGY commented, "This is another milestone along our path. We believe we have the assets, resources, and expertise to be a 10,000 BOEPD enterprise by 2020."
Rajan Ahuja, CEO of TEXEGY commented, "These properties have significant upside and are in line with TEXEGY's long term vision. We have demonstrated our ability to develop such assets efficiently."
About TEXEGY LLC
TEXEGY LLC, founded in 2014, is an oil and gas exploration and development company focused on acquiring, developing, and operating oil and gas assets in Texas and Louisiana.
2020 Richmond Avenue, Suite 101, Houston, Texas 77098
COMPANY CONTACT:
Zachary Glaub
Business Development Coordinator
(832) 487-9384
SOURCE: TEXEGY LLC
Source: ACCESSWIRE
(December 14, 2016 - 5:00 PM EST)
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