The acquisition includes individual oilfield producing assets and options throughout the Austin Chalk and near the Eagle Ford shale play in Texas.
These assets include leases, options and working interests in 19 oil wells throughout the area and additional options to invest in wells to be drilled or re-entered in three leases identified as Tilmon, Lay and Rodenberg.
Global NuTech CEO David Mathews said Texas Gulf Oil & Gas provides Global NuTech a platform to expand vertically in the energy markets, specifically in energy services, exploration and production.
