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Energy & Exploration partners buy Chesapeake Woodbine holdings

A. Lee Graham

Energy & Exploration Partners Inc. of Fort Worth has acquired 57,275 net acres and 11 producing wells in the Woodbine-Eagle Ford play in East Texas from a subsidiary of Chesapeake Energy Corp.

The transaction was financed with by senior unsecured notes to Highbridge Principal Strategies and Apollo Investment Corp.

"Energy & Exploration is pleased to have partnered with Highbridge and Apollo to acquire Chesapeake's Woodbine acreage," said Hunt Pettit, founder and CEO of Energy & Exploration Partners, commenting in a news release.

"We plan to commence a two-rig drilling program on the acreage acquired from Chesapeake," Pettit said.

Energy & Exploration Partners owns an additional 14,600 net acres in the Woodbine-Eagle Ford play. The Fort Worth company locates, develops, produces and markets oil and natural gas in Texas and the Rocky Mountains. More information is available at www.enexp.com.

 

lgraham@bizpress.net

 

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