Eagle Asset & Activities Recap – 1Q16

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Since the oil price downturn began in mid-2014, Eagle Natural Resources has acquired roughly 4,000 +- acres in the Permian Basin of West Texas and the Bend Arch region of North Central Texas. The majority of the leases have their own injection and/or salt water disposal wells and are held by production (HBP).

Sign up for our oil & gas newsletter.Eagle’s stable of producing properties features 80 to 100 BOPD of production from Gaines, Dawson, Archer, Wilbarger, and Foard Counties in Texas. Roughly 30+ wells produce from the following zones: Wolfcamp Reef, Strawn, San Andres, Dean, Sprayberry, Clear Fork, KMA, Caddo Lime, Mississippi, Granit Wash, Atoka Conglomerate, Gunsite, and Canyon Reef zones.

In total, Eagle’s asset portfolio currently includes the following as of 1Q16:

  • 3.65 MMBO in booked PUD reserves + 8.6 MMBO in upside reserve potential
  • Upside 8.65 million reserve potential
  • 60 infield drilling locations in inventory

Extensive redevelopment initiatives are currently underway on certain properties, which are designed to increase production by 200-400%. Activities include:

  • Pull all production rods, tubing and downhole pumps
  • Drill out wellbore to original depth and circulate to clean conditions
  • Acidize and/or Frac the producing reservoir(s)
  • Refurbish Pumping Units, Flow lines, Separation systems and Tank Facilities
  • Re-run new tubing, rods and downhole pumps and put well back into production

Once the recompletion actives have been finished, a developmental PUD drilling plan will be implemented, pending favorable oil pricing.

With crude oil prices still below the $40 per barrel mark, Eagle will continue to aggressively expand our asset portfolio, targeting the acquisition of HBP’d oil producing properties with redevelopment and upside drilling potential.

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Eagle Natural Resources is a privately held oil and gas operating company based in Texas. We offer accredited investors direct access to U.S. energy projects focused on long-term value, transparency, and responsible development.

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Eagle Natural Resources, LLC
RRC # 253075
5445 Legacy Dr. STE 440 Plano TX 75024
Phone: (833) 553-1534

There are significant risks associated with oil and gas investments. Information found on this site is for general purposes only and is not a solicitation to buy or an offer to sell securities. General information on this site is not intended to be used as individual investment or tax advice. Consult your personal tax advisor concerning the current tax laws and their applicability and effect on your personal tax situation.

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Recipient – Registrant on www.EaglenNaturalResources.com

Disclosing Party – Lexstar Energy, DBA Eagle Natural Resources

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