Exterra Energy, Inc. (EENI.OB) Acquires 3,100 Acres in the Barnett Shale
Exterra Energy, understanding that the oil and gas game comes down to production, is pursuing a strategy focused on acquiring undervalued, production-capable assets that can be capitalized given prevailing technologies and market conditions. Today, EENI reported the acquisition of 3.1k acres of new mineral leases in Texas’ Barnett Shale. The North West corner of the historically proven and currently producing Barnett is the location of the new acreage, which contains 52 extant wells, 44 of which are currently averaging 35 BOPD, thus indicating the site is already good to go. However, in typical EENI fashion, they have major plans for…