NetworkNewsBreaks – Lonestar Resources (NASDAQ: LONE) Closes Eagle Ford Shale Acquisitions

Lonestar Resources (NASDAQ: LONE) this morning said it has closed on the previously announced Eagle Ford Shale acquisitions in Karnes, Gonzales, DeWitt, Lavaca and Fayette Counties. The acquisition comprises of approximately 30,219 gross or 21,238 net acres. Lonestar has previously estimated the area to have proven reserves of approximately 31.4 million barrels of oil equivalent. The company paid approximately $110.6 million to close the transaction, consisting of $99 million in cash and approximately 2.7 million shares of its Class B Convertible Preferred Stock. Lonestar’s senior secured facility was increased from $112 million to $160 million after closing these acquisitions. Additionally, Lonestar has reached agreements to repurchase or redeem the remaining $17 million of second lien notes by June 30, 2017.

To view the full press release, visit:

About Lonestar Resources US Inc.

Lonestar Resources is an independent oil and gas company involved in exploration, production, and acquisition of unconventional oil and gas reserves. The company’s growth is focused on the Crude Oil Window of the Eagle Ford Shale, where Lonestar anticipates spending 95% of its capital for the next several years on its leasehold which currently exceeds 30,000 net acres. Lonestar is also evaluating the resource potential of its 50,000-acre block in the Williston Basin. For more information, visit

About NetworkNewsBreaks

NetworkNewsBreaks (NNB) provide a rapid summary of corporate news that caught the attention of NetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published:

NetworkNewsWire (NNW)
New York, New York
212.418.1217 Office

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s