sea takeover of txn acerage, page-36

Sharejon, I would understand SEA buying JV partner acreage in EFS if it intends to sell off the EFS stake after proving it up because the acreage apparently needs to be filled out to be attractive to others. Maybe that's SEA's plan (prove up reserves and sell).

But I think it is much more likely that SEA plans to produce TXN's EFS acreage through to completion. It will be placing a rig on-site after settlement and drill lots of horizontals. I won't buy adjacent acres unless the partners are willing to sell off at a good price for SEA. And I don't expect nearby firms are willing to sell anywhere near TXN's selling price.