Lonestar to Acquire Five Oil, Gas Properties in Texas for $116.6M

by Taylor Williams

FORT WORTH, TEXAS — Fort Worth-based oil and gas firm Lonestar Resources US Inc. has entered into agreements with unaffiliated sellers to acquire five oil and gas properties within the Eagle Ford Shale play, an oil and gas formation in South Texas with more than $30 billion in capital investment. The properties are located in Karnes, Gonzales, DeWitt, Lavaca and Fayette counties. Upon closing, which is slated for late June, the company will acquire 80.3 net producing oil and gas wells and a leasehold totaling 21,238 net acres for approximately $116.6 million.

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