Pine Wave Sells East Texas Gas Assets to Rockcliff Energy


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Pine Wave Energy Partners announced Tuesday (10/21) 
that it has sold to Rockcliff Energy III its East Texas natural gas assets. The 
transaction includes 25 operated wells with a combined production capacity of 
100 MMcfb.

   Pine Wave did not specify the value of the transaction that covered wells in 
the San Augustine and Shelby Counties and stretch over approximately 29,000 net 
acres.

   Rockcliff said the acquisition provides enough drilling locations in the 
Bossier and Haynesville shales to sustain and increase production in years to 
come.

   The asset sale was the second in just over three years for Pine Wave, which 
said it has another 10,000 net acres to develop a new platform in the 
Haynesville Shale -- one of the top three U.S. gas basins, with output in the 
range from 12 to 15 Bcfd.




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