PETROLEGACY ENERGY ANNOUNCES COMPLETION OF INITIAL PILOT WELL
AUSTIN, Texas – September 8, 2017 – PetroLegacy Energy announced today that it has completed its initial pilot well at a total depth of 11,518 feet. Focusing on Spraberry and Wolfcamp zones, the well captures over 4,500 feet of prospective section and includes the collection of geochemical and petrophysical data, rotary cores and 1,100 feet of whole core. The PetroLegacy Energy team is encouraged by initial results and excited to see what insights the data will provide.
PetroLegacy Energy Acquires Midland Basin Acreage from Pioneer
AUSTIN, Texas – May 1, 2017 – PetroLegacy Energy II, LLC (“PetroLegacy”) announced today that it has closed on the acquisition of roughly 20,000 net acres in northeastern Martin County, Texas, from Pioneer Natural Resources Company (NYSE: PXD) for $266 million. This highly contiguous position in the northern Midland Basin is currently producing approximately 1,500 BOE/d and will provide PetroLegacy with horizontal drilling locations across the property prospective for the Lower Spraberry, Wolfcamp A and Wolfcamp B formations. In addition, PetroLegacy believes the asset contains additional horizontal drilling potential in other stacked-pay formations including the Middle Spraberry, Jo Mill and additional Wolfcamp horizons.
About PetroLegacy Energy II, LLC
PetroLegacy Energy II, LLC, a privately held exploration and production company based in Austin, Texas, was formed in September 2016 with an equity commitment from EnCap Investments L.P. For additional information, please visit www.plellc.com.
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