A Dallas company has acquired most of the assets of Lafayette-based Orbit Energy Partners LLC, including seismic data for hundreds of square miles in southwestern Louisiana and 13 wells.
Gulf Coast Western LLC said subsidiary Orbit Gulf Coast Exploration LLC was the acquiring company. Terms of the deal were not disclosed.
The assets also include 140 defined drilling locations from which the equivalent of roughly 30 million barrels could potentially be produced.
Gulf Coast Western, Orbit Gulf and Obit Energy plan to partner to develop hundreds of prospects in an covering approximately 1,000 square miles in Acadia, Allen, Beauregard, Calcasieu, Cameron, Evangeline and St. Landry Parishes. The 13 wells now producing, and one that is being placed into production, are expected to produce the equivalent of more than 800 barrels of oil a day.