By OGJ editors
HOUSTON, May 21 -- Legend Natural Gas LP, Houston, closed on its acquisition of 24,000 gross acres of producing natural gas properties in South Texas and on the Texas Gulf Coast from Anadarko Petroleum Corp. and its wholly owned subsidiary RME Petroleum Co. for $56.1 million.
Principle among the acquired assets is Roleta field in Zapata County, Tex. Legend will serve as operator of the field. Other fields include Haynes-Comitas field, also in Zapata County, Weesatche NE field, in Goliad County, Tex., and Bobcat Fun field in Orange County, Tex.
Legend will take over operations of 54 production wells and will have a nonoperated position in 22 additional producing wells. Net production from the properties is 15 MMcfed; 96% of production and reserves is natural gas, Legend said.
The deal marks the first property acquisition for Legend, which was formed in September 2001 for the purpose of purchasing and developing such assets, principally in Texas and Louisiana.
