Silver Oak Acquires SE Texas Assets

Silver Oak Energy Partners, LLC of Fort Worth has acquired long-lived producing properties in SE Texas and Louisiana from Addison Oil, LLC in Hardin, Newton and Tyler Counties, Texas as well as Beauregard Parish, Louisiana. The properties are located in a highly productive oil and gas region, total 7,833 acres and produce approximately 900 BOEPD, predominately from the Yegua Formation. In the near future, Silver Oak plans to substantially increase the producing rate through recompletions, field optimization and improved efficiencies. In addition, Silver Oak anticipates the development of new drilling prospects on the acquired leases. The acquisition by Silver Oak is part of its focus upon value creation through the development of new oil and gas reserves, as well as the acquisition of existing reserves.