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Halcon Buys Carrizo's Utica Leases

On Monday, October 15, 2012, Carizzo Oil and Gas announced that Halcon Resources Corp. purchased a majority of their Utica Shale leases in Trumbull, Ohio, and Mercer and Crawford counties, Pennsylvania, for $43 million. An existing drilling pad and approved well drilling permits were also part of the sale. Carrizo will continue to own an undivided 10% interest, along with an option to increase its ownership to 50%, in nearly 26,000 additional gross acres, primarily in Guernsey County, Ohio, where the company said there were encouraging drilling results. Continue reading…