US JUNIOR Wildhorse Resource Development is paying $625 million in cash and shares for a sizeable asset package that will boost its position in the eastern extension of the Eagle Ford shale play in central Texas, mainly from US independent Anadarko, writes Noah Brenner.
The asset package includes 111,000 net acres that yielded average fourth quarter production of 7583 barrels of oil equivalent per day (72% oil) from 386 operated wells targeting the Eagle Ford, Austin Chalk and Buda/Georgetown tight oil formations.
