FORT WORTH, Texas, April 15, 2013 /PRNewswire/ -- Energy &
Exploration Partners, Inc. ("ENXP"), announced it has acquired
57,275 net acres and 11 producing wells in the Woodbine/Eagle Ford
play in East Texas from a
subsidiary of Chesapeake Energy Corporation. In connection
with the transaction, Energy & Exploration Partners issued
senior unsecured notes to Highbridge Principal Strategies and
Apollo Investment Corporation (NASDAQ: AINV).
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"Energy & Exploration is pleased to have partnered with
Highbridge and Apollo to acquire Chesapeake's Woodbine acreage,"
said Hunt Pettit, Founder and CEO of Energy & Exploration
Partners. "We plan to commence a two-rig drilling program on the
acreage acquired from Chesapeake."
The Woodbine/Eagle Ford play in East
Texas is an emerging unconventional resource play with
multiple prospective targets, including the Woodbine sandstone,
Eagle Ford shale and Lower Cretaceous formations of the
Buda, Georgetown, Edwards and Glen
Rose.
Energy & Exploration Partners owns an additional 14,600 net
acres in the Woodbine / Eagle Ford play. A 330 square mile 3D
seismic acquisition is underway over the majority of the acreage
owned by the company in Madison
and Grimes Counties, Texas.
This press release contains forward-looking statements within
the meaning of the federal securities laws. These forward-looking
statements involve certain risks and uncertainties, including,
among others, risks impacting the ability of ENXP to complete any
public offering of its securities because of general market
conditions or other factors. ENXP undertakes no obligation to
publicly update or revise any forward-looking statement.
About ENXP
Energy & Exploration Partners is a private, independent
Fort Worth, Texas based company
with interests in oil and gas wells and properties in Texas and the Rocky Mountains of the US.
Contact:
Energy & Exploration Partners, Inc.
Brian C. Nelson
Executive Vice President and Chief Financial Officer
(817) 484-4733
SOURCE Energy & Exploration Partners, Inc.