BlackBrush Oil selling off bulk of its producing assets - San Antonio Business Journal:

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The sale of the properties will allow BlackBrush to pay off 100 percent of its existingv bank debt and emerge as a stronger andleanefr operation, according to company “We’re confident that by taking this action, we will be bette r able to provide improved operatingt and financial results than we coulf have done under the current operation,” BlackBrushj CEO Scott Martin says. BlackBrush retains an interest inover 100,009 acres of land in South Texasw for development. Martin adds, “In we will be in a great positiob to redouble our efforts on the midstream side by focusint our attention to projectw inDimmit County, Frio County and Karnes County.
” But Martijn says the big opportunity for BlackBrush is in the Eagleford. “Twelve to 15 Eaglefordr tests in the last few monthsx all came in meeting orexceedingf expectations,” says Martin. “The area is more condensate rich than othert shale plays and is more attractive in this oilpricr environment.” While the scope of its operations will BlackBrush and all of its affiliated companies will continud to operate, Martin says.