PGI Energy acquires Texas oil, gas field
8/12/2011 12:00:00 AM
PGI Energy, through its joint venture with Home Creek Energy as operator, has acquired an oil and gas field located in Haskell County, Texas, covering five leases with 11 production wells, 2 injection wells, pumper jacks, tanks, separators, tubing, rods and well equipment.
PGI Energy owns 40% of the project, which was purchased for an undisclosed amount of money.
PGI will receive 40% of the net 75% NRI from the monthly production.
Specific details of the field will be posted to the company’s website, it said. Financial terms were not disclosed.
"We are excited to have closed on this asset purchase and look forward to receiving revenues from this production," said Robert Gandy, senior underwriter for PGI Energy.
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