Liberty Energy buys Central Texas acreage

Liberty Energy has purchased more than 1,000 acres in Central Texas.

Liberty Energy Corp. (OTCCB: LBYE) has acquired more than 1,000 acres in Central Texas for exploration and production of oil and gas leases.

The acquisition is in line with the Houston-based company?s strategy of growing shareholder value by acquiring proven domestic oil and gas assets, CEO Ian Spowart said in a statement.

Liberty is finalizing the geological and geophysical work plan for the new leases, which are considered low-risk. Spowart said the acreage is a great addition to the company?s existing portfolio.

The acquisition includes leases in Batrop, Caldwell and Eastland counties. Financial details of the transaction weren?t disclosed.

Liberty is an independent oil and gas exploration and production company that primarily works in the sourcing and production of fuel supplies in the United States and Europe. The company has holdings throughout Texas and in Bulgaria.

Earlier this month, Liberty said the company would retain Resultz Media Group Corp. to handle investor communications and marketing for the rest of the year.

Deon covers energy and law for the Houston Business Journal.

Source: http://feeds.bizjournals.com/~r/bizj_national/~3/mo0LoDwdHoA/liberty-energy-buys-central-texas.html

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