US Energy Corp. has agreed to acquire operated oil and gas producing properties in East Texas from an unnamed private party in an $11.8 million cash deal.
The assets, which include two pipeline gathering systems and related infrastructure as well as 16,600 net operated acres, lie in Anderson and Henderson Counties, Texas, adjacent to US Energy’s existing assets in the area, the company said in a June 30 release.
April 2022 net production from the assets averaged 418 boe/d (40% oil, 60% natural gas). Estimated reserves are about 1.3 MMboe, the company said.
The deal is expected to close in July 2022.
