Stratex will identify both conventional and unconventional opportunities, on a negotiated basis, while adhering to strict engineering, capital structure, and risk management guidelines. Stratex will insure that drillbit economics generate high IRRs for its stockholders.
- With the recent acquisition of leases located in Zavala County, Texas (Eagle Ford Shale play) and Callahan County, Texas, the Company now boasts three significant core operating areas. Stratex also expects to develop its Golden Valley acreage (in the Red River formation) located in the North Dakota Williston Basin.
- Stratex now has an impressive multi-year drilling inventory. Management believes there are up to 42 horizontal locations in the Eagle Ford Shale formation alone.
- Stratex recently acquired a 64% gross working interest encompassing approximately 60 acres in Callahan County, Texas. That lease represents a portion of a significantly larger existing field which has produced more than 2,000,000 barrels of oil since the 1950s. Furthermore, the Company has entered into a 16,000 acre AMI, centered around the lease. Management anticipates initial production during the first quarter of 2014.
Two Allen Center
1200 Smith Street
Houston, TX 77002