Australia-listed American Patriot Oil & Gas has made the transition to a production company with the acquisition of producing assets in Texas, reports Upstream Online.
"American Patriot has acquired assets in south Texas with combined proven reserves totalling 900,000 barrels of oil equivalent for US$4.5 million.
"The acquisitions are taking place over two tranches, with the first seeing the company gain a 100% interest in assets currently held by Safari Oil & Gas Production and Anasazi New Ventures in Hidalgo,"
By Mike Shiloh
Copyright August 07, 2017, Mike Shiloh, Texas Energy Report LLC, www.texasenergyreport.com, All rights are reserved