Lonestar also announced that it has entered into an agreement for a dedicated frac spread for 2019 with a leading energy service company. Bracken added, “A dedicated frac spread in 2018 was a critical component to Lonestar’s ability to execute at a high level, allowing us to repeatedly exceed Street expectations. Entering into a similar agreement should ensure continued execution, and current market conditions for pressure pumping and sand should deliver considerable savings in our 2019 fracture stimulation costs when compared to 2018.”
Lonestar is an independent oil and natural gas company, focused on the development, production and acquisition of unconventional oil, natural gas liquids and natural gas properties in the Eagle Ford Shale in Texas.
Lonestar operational focus is on the Eagle Ford position located in eleven Texas counties, which are divided into three distinct regions: Western Eagle Ford (Dimmit, La Salle and Frio Counties), Central Eagle Ford (Gonzales, Karnes, Fayette, Wilson, DeWitt and Lavaca Counties) and Eastern Eagle Ford (Brazos and Robertson Counties). As of December 31, 2017, Lonestar operated 81% of the Eagle Ford position and approximately 89% of our acreage was held by production (HBP).