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The sale of the properties will allowe BlackBrush to pay off 100 percenr of its existing bank debt and emerg e as a stronger and leaner according tocompany officials. “We’re confidenft that by taking this action, we will be better able to provide improved operating and financial resultse than we could have done under thecurrenty operation,” BlackBrush CEO Scott Martin BlackBrush retains an interest in over 100,00p0 acres of land in South Texas for development.
Martinj adds, “In addition, we will be in a greagt position to redouble our efforts on the midstreamk side by focusing our attention to projects inDimmitr County, Frio County and Karnes But Martin says the big opportunity for BlackBrusuh is in the Eagleford. “Twelvde to 15 Eagleford tests in the last few monthsz all came in meeting or exceeding says Martin. “The area is more condensatr rich than other shale plays and is more attractive in this oilprics environment.” While the scope of its operations will decrease, BlackBrush and all of its affiliatee companies will continue to Martin says.
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