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Sanchez Production Partners adds several south Texas oil, gas assets

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Written by Mike D. Smith at Fuel Fix

Click HERE to Read the Article by the Publisher.


Sanchez Production Partners has added a bundle of assets in the Eagle Ford region and across south Texas, the company announced.

In one of a set of recent deals, the Houston-based publicly traded energy company will pay $47.7 million for a 50 percent stake in natural gas company Carnero Processing. The partnership purchased the stake from Sanchez Energy Corp.

Sanchez Production Partners also assumes about $32 million in capital committed to Carnero, which is building a cryogenic natural gas processing plant in La Salle County.

In a second deal, the partnership bought 34 producing wells for $27 million. The wells are scattered across Dimmitt, Zavala and Gonzales counties. The company estimates the wells will produce a combined average of 700 barrels of oil equivalent per day in 2017.

Sanchez Production Partners also now have a lease option for property along Lavaca Bay in Point Comfort. The company plans to complete a 350,000-barrel capacity crude storage terminal in 2017.


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Written by Mike D. Smith at Fuel Fix

Click HERE to Read the Article by the Publisher.

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