By OGJ editors
HOUSTON, Nov. 3 -- GE Energy Financial Services and Sunland Resources LLC agreed to buy natural gas and oil reserves in northern Louisiana for $101 million from a consortium led by Caruthers Producing Co. Inc.
The assets include 26 producing wells, 2 proved, developed nonproducing wells, and 11 proved, undeveloped drilling locations in Caspiana and Black Creek fields. Production is 44% oil, 55% gas, and 1% liquids.
GE Energy holds a majority limited partnership interest in Sunland Production Partners LP, a partnership with Sunland Resources for the reserve acquisition.
The operator will be Sunland Production, which already operates more than 60 oil and gas wells in eight fields in north Louisiana and Arkansas, producing 400 b/d of oil and 15 MMcfd of gas.
