Three Rivers Acquires 15,000 Acres from Meritage Energy

On September 7, 2012 Three Rivers acquired certain assets located in the Permian Basin of West Texas from Meritage Energy Company, LLC (“Meritage”). The acquired properties included approximately 15,000 net acres with production of 1,900 barrels of oil equivalent per day located in Howard, Glasscock, Martin, Dawson and Upton Counties, Texas.  Substantially all of the production from the Meritage assets is derived from Wolfberry wells, principally in Howard County.  We plan to continue to drill vertical Wolfberry wells on this acreage with two or more active drilling rigs.  Additionally, much of the acreage is prospective in the Cline formation, which we intend to exploit using horizontal drilling techniques.  Three Rivers is actively seeking additional acquisitions of producing wells and undeveloped leasehold in close proximity to the Meritage assets.

 

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