Dallas-based Aresco LP has acquired a working interest on 20,000 acres in the Tuscaloosa Marine Shale and expects drilling on the first of four wells to begin in December.
Details of Aresco’s ownership interest and partner or partners were not released.
The oil and gas exploration company’s acreage is north of Baton Rouge and straddles the Louisiana and Mississippi state lines.
Aresco said four wells are planned for the acreage, and the wells should be drilled, completed and begin production around mid-May.
“With the current oil and gas price downturn, we have been able to step up as an alternate funding source to help support continued development,” said Brandon Laxton, president of Aresco LP and Aresco Operating Co. “This has allowed us the opportunity to offer premium drilling positions and attractive return potential to our team of private capital partners.”