Independent looks east for the Eagle Ford: A small company has big ideas when it comes to chasing the Eagle Ford shale into Louisiana

摘要

When industry people hear the term "Eagle Ford shale," they are not likely to think of Louisiana. This hot play has South Texas on fire as companies rush to exploit its gas and oil riches. But tiny Indigo II Minerals LLC is convinced that the geology does not change much at the Texas/Louisiana border. Bill Pritchard is the chairman and CEO of Indigo. His ambition is to be successful enough in Louisiana to singlehandedly rename the play from the Tuscaloosa Marine shale (TMS) to the Louisiana Eagle Ford shale. The company got its start by putting together a mineral position, a deal made possible by the exchange of Roy O. Martin Lumber Co.'s mineral rights for an equity position in the company. Yorktown Partners, Indigo's financial partner, matched the valuation of the minerals in cash.