EF Energy Acquires Leases
EF Energy LLC (“ EF”), a private equity-backed company headquartered in Houston, has acquired approximately 30,000 acres in the Eagle Ford Shale. They are focused exclusively on opportunities in the Eagle Ford trend and will acquire and develop leases primarily in the oil/ condensate window of the formation. In addition to the acquisition of leases, EF drilled and cored three vertical wells in the fourth quarter of 2010 for the purpose of analyzing the Eagle Ford formation on its leases and de-risking its acreage. EF plans to commence drilling and complete horizontal wells in early 2011 and has signed a one-year rig contract to support its development plans. EF is also looking to continue to expand its leasehold in the trend.