- ZaZa Energy says it will move ahead with the third and final phase of its joint venture with EOG Resources developing the emerging Eaglebine tight oil play in east Texas.
- EOG will receive a 75% working interest in the remaining Phase III acreage, and ZAZA will receive $4.7M of upfront cash and a carry of the partner's share of future joint venture costs of up to ~$9.2M.
- EOG also commits to drill an additional two wells, with the first commencing no later than July 1.
Wednesday, March 12, 2014
For Investors Only
Posted by Bruce Oksol at 1:56 PM