Chato Energy, an affiliate of Fortify Energy has acquired a leasehold in South Bearheed Creek, Raccoon Bend, the AWP fields, and a non-operating interest in the South Burr Ferry from Texegy, a Houston, Texas-based oil and gas provider.
Texegy has kept an 18-month exclusive farmout over SBC following the sale. The divestiture builds on Fortify’s strategy of acquiring low risk producing properties
Sherif Wadood, co-founder of TEXEGY group, said, “Through this transaction, we can sharpen our focus on exploiting our substantial mineral position in Austin Chalk of over 50,000 unleased contiguous acres, utilizing technical studies including fully processed 3D seismic that was shot recently over the entire footprint. Such a unique and a serious position in the Austin Chalk deserves our full attention.”