Falcon is acquiring a majority interest in the project together with Banner Resources, a Dallas-based independent oil and natural gas company.
Current gross production is approximately 645 barrels of oil equivalent per day from 63 wells on 13,000 acres in Tom Green and Irion Counties.
The property produces oil, natural gas and natural gas liquids from multiple producing horizons on a large contiguous acreage position with over 200 shallow, low risk drilling locations.
Falcon is a Delaware limited liability partnership specializing in direct investments in onshore oil and gas assets located in the continental US.
