Inpex purchase of most Gulftex acreage in Karnes area

Gulftex has flipped most of its Eagle Ford acreage to Inpex, a major Japanese oil company new to the area.  I've attached the translated release with a map of the acreage I found on the Japanese web site.  The acreage is mostly in Karnes, much of it previously held by Plains, Freeport, and then Encana before Gulftex. 

Presumably, Inpex intends to go forward with development in the circumstances?  This could be encouraging for the Karnes/Atascosa/Wilson area.  Any thoughts?

Inpex Gulftex press release.pdf

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One has to assume that IMPEX did not spend all this $$$ to sit on the acreage and live off the existing production. They will want to start drilling more wells to get new production to start paying out their investment.

I am sure that they have done their own work as well as picked up Gulf Tex's technical work to allow them to prioritize where best to drill to get the best return.

My concern would be how long before IMPEX can be viable as an operator in the S Tx Eagle Ford trend with respect to building the contractor relationships to work in this playground. And even more importantly, how they will proceed with drilling and completion in this trend. Successfully exploiting the EF and AC section in this area will depend on having the right people doing the work for them.

It is easy to make mistakes in these types of plays.

Time will tell.



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