The company is set to take over Magnum Hunter Resource’s stake in Atascosa County in Texas.
The report compiled by CG&A has delineated 12.3 million barrels of oil equivalent of 3P reserves across the Atascosa project.
This is equal to a purchase price of $2 per barrel of oil equivalent at sale price.
New Standard is still waiting on shareholder approval to complete the sale of the project, with an extraordinary general meeting to be held on 20 January.
Managing
