By OGJ editors
HOUSTON, Feb. 26 -- Isramco Inc., Houston, agreed to pay $102 million to GFB Acquisition I LP, Midland, Tex., and GE Financial Services for oil and gas producing properties in Texas, New Mexico, and Oklahoma.
The deal, to close in March retroactive to Jan. 1, includes mainly operated properties in 40 fields in East Texas, the Texas Gulf Coast, and the Permian, Anadarko, and San Juan basins. Net production is 600 b/d of oil and 3.5 MMcfd of gas, and net proved developed producing reserves are 2.7 million bbl of oil and 14 bcf of gas.
Main fields are Alabama Ferry in East Texas, Bagley in West Texas and New Mexico, and Esperson Dome on the Texas Gulf Coast.
