PetroPoint Energy Buys Oil Properties in Lobo and Olmos Areas

- August 7th, 2012

PetroPoint Energy Partners has bought oil and gas properties in the Lobo and Olmos areas of South Texas from Rosetta Resources Operating LP for $95 million.

PetroPoint Energy Partners has bought oil and gas properties in the Lobo and Olmos areas of South Texas from Rosetta Resources Operating LP for $95 million.

As quoted in the press release:

The remaining properties under the agreement are anticipated to close in the third quarter of 2012.

Pinpoint Energy Partners’ president and CEO, George Laflin, stated:

These assets are on concentrated acreage positions held by production. They fit our strategy to provide stable cash flow due to their long life, low decline rates and a suitable inventory of recompletions and low risk new drilling opportunities.

Click here to read the PetroPoint Energy Partners press release.

Leave a Reply