Global and Regional MarketsNews

Ensign Natural Resources acquires Eagle Ford acreage from Reliance

Ensign Natural Resources announced the purchase of assets in the Eagle Ford Shale from Reliance Eagleford Upstream Holding. The acquisition includes approximately 62,000 net acres in Bee, DeWitt, Karnes and Live Oak Counties and current net production of approximately 18,000 BOED.

This acquisition increases Ensign’s current ownership to 100% in the leases and wells it acquired from Pioneer Natural Resources in 2019 and Newpek in 2020. Following the Reliance acquisition, Ensign owns and operates 130,000 acres in the core of the Eagle Ford with current production approaching 40,000 BOED, making the company one of the larger private operators in the basin.

“Through our efforts over the last three years, we have created an asset that generates significant free cash flow and has a deep inventory of highly economic well locations in the core of the Eagle Ford Shale. We are excited to complete the puzzle with the acquisition of Reliance’s interest and now operate one of the premier assets in the basin,” said Brett Pennington, President and CEO of Ensign. “We look forward to future development of the asset and working closely with our service providers and landowners as we continue to grow the business in a safe and efficient manner.”

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button