Abraxas, Blue Eagle form Texas shale joint venture

08/20/2010 | Forbes

Abraxas Petroleum has forged a joint venture with Blue Stone Oil & Gas in the Eagle Ford Shale. Under the terms of the $100 million deal, Abraxas will provide more than 8,000 net acres in the play and will obtain an equity stake worth $25 million, while Blue Stone will spend about $75 million to purchase more holdings, 3-D seismic data and fund well-drilling.

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