The acreage, located in condensate window of La Salle County, Texas, was purchased for a “reasonable price,” according to a recent report by Jefferies & Co. Inc. Up front cash costs amount to $1,650 an acre and $21.5 million. Additional costs in the form of a $71.5 million drilling carry put the total cost near $5,500/acre. Funding for the acquisition comes, in part, from proceeds from the company’s recent sale of non-core Barnett assets.

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