Panhandle Oil and Gas buys Eagle Ford assets for $80M

• Panhandle Oil and Gas (NYSE:PHX) agrees to acquire a 16% non-operated working interest in 1,775 net acres located in the Eagle Ford Shale for $80.4M from private sellers.
• The block contains 58 producing wells with estimated net proved developed reserves of 1.72M barrels of oil, 1.73M mcf of gas and 297K barrels of natural gas liquids; estimated reserves for the 113 undeveloped locations are 5.57M barrels of oil, 4.58M mcf of gas and 789K barrels of NGL.