The land, which is considering for the deal, includes two tracts with 1,340 acres situated near to Mirando City.

Around 81 producing operators are present in Webb county with 3,799 active leases that produced around 7,859 barrels of oil and 35,368,299 MCF of natural gas in September, 2013, according to Texas oil and gas provider

Horizon Energy president and CEO Robert Bludorn said the company is actively evaluating the current deal and other acquisition opportunities of oil and gas properties that are a match with company’s strategy.

"We are encouraged by the deal flow we are identifying that has the potential to allow us to build our company with quality assets," Bludorn added.

Some of the operators in Webb county comprise SM Energy, and Lewis Energy in partnership with BP, Chevron USA, ConocoPhillips and Laredo Energy.