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Petro Harvester to buy Mississippi, Louisiana fields

Petro Harvester Oil & Gas LLC, Frisco, Tex., plans to acquire producing, long-life oil properties in central and southern Mississippi and southern Louisiana from Denbury Resources Inc., Plano, Tex.

The acquisition includes 138 operated wells in 29 producing oil and gas fields. The transaction is expected to close by the end of February 2012.

The deal represents Petro Harvester’s third acquisition in 13 months and its second in the Gulf Coast region, raising total asset purchases to more than $400 million. Petro Harvester was formed in mid-2010 and acquired Mississippi long-life, oil and gas properties from Comstock Resources Inc. in December 2010. The second acquisition was of Williston basin long-life oil properties in North Dakota last year.

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