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EOG Resources (EOG) is the unnamed company teaming with ZaZa Energy (ZAZA) to develop...

EOG Resources (EOG) is the unnamed company teaming with ZaZa Energy (ZAZA) to develop assets in Texas' Eaglebine trend, an SEC filing says. For acreage 100% owned by ZaZa, EOG will be the operator and earn a 75% working interest, while ZaZa will retain 25%; for acreage currently owned 75% by ZaZa and 25% by Range Resources (RRC), EOG will earn 50% while ZaZa and RRC each will retain 25%.
Comments (1)
  • Bob de'Long
    , contributor
    Comments (696) | Send Message
     
    Good news, as this acreage needed a competent firm to develop it. Zaza is technically weak at drilling and completing. Essentially, Zaza gave away 75% of it acreage for a drilling carry. If this acreage is as good as it looks, EOG made a great deal. Zaza shareholders were the losers.
    26 Mar 2013, 06:08 AM Reply Like
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