Liberty Energy Corp. (LBYE) to Acquire Oil and Gas Leasehold in Texas
Liberty Energy reported that the company has signed an agreement to purchase oil and gas leasehold in Texas. The acreage is undeveloped and is spread across several different counties with exposure to a number of hydrocarbon bearing formations. Liberty Energy executed a memorandum of understanding to purchase approximately 1,040 acres located in Bastrop, Caldwell, and Eastland Counties. The company plans to perform detailed analysis of the properties prior to embarking on a development program. Bastrop County is in the southern part of Texas and produces mostly from the Austin Chalk and Navarro formations. The county is also prospective for the…