Eagle Ford Oil & Gas has signed a letter of intent to acquire a 10% working interest in 3,600 acres in Wilson County, Texas.
The property has 42 Eagle Ford Shale locations with additional drilling opportunities, according to the company.
The company said that this acquisition represents both another step in the execution of its business strategy as well as a major expansion of its reserve position through the oil leg of the Eagle Ford Shale.
The first development well is slated for November, 2010.
The company anticipates the development of this field to improve its growth potential over the next two years.
Eagle Ford Oil & Gas is an independent oil and gas exploration and production company headquartered in Houston, Texas.