West Texas Resources Signs Letter of Intent for Acquisition of Oil and Gas Properties

Oil and Gas - Aug 18, 2017

West Texas Resources, Inc., a Texas-based independent oil and gas company is pleased to announce the execution of a letter of intent to acquire oil and gas properties from an independent oil and gas company in Bakersfield, California. The acquisition, mostly oil properties, is located in Kern County, California. WTXR will be paying approximately $4 million in cash and stock for what is estimated to be $50 million in proved reserved as determined by an accredited oil and gas engineering firm. These are producing properties.


Source : West Texas Resources, Inc.

Published on Global Energy World: Aug 18, 2017


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