The company has also signed a joint venture agreement with Southridge and Pablo to develop the remaining undrilled locations on the acreage.
The acquired properties include approximately 20mmcfed of current net production and over 77,000 gross acres located primarily in the liquids rich fairway of the Woodford Shale in Coal and Atoka Counties.
This transaction represents a strategic expansion to JEH’s existing operations, which are focused primarily in the Cleveland Sand and Granite Wash formations of the Texas Panhandle.
JEH will have a significant presence in its two core areas of focus, which include the Anadarko Basin (Cleveland Sand and Granite Wash formations) and the Arkoma Basin (Woodford Shale).
