HOUSTON, Sept. 23 -- El Paso Corp. has boosted its lease...

HOUSTON, Sept. 23 -- El Paso Corp. has boosted its lease position to more than 135,000 acres in a Wolfcamp shale play in West Texas by submitting winning bids for 123,100 acres with multiple pay opportunities.
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It is El Paso's second organic shale entry following acquisition of more than 170,000 net acres in the South Texas Eagle Ford shale.
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To that end, the $180 million cost of the acquired acreage will be funded over time through portfolio rationalization,...

full article--
http://www.ogj.com/index/article-display.articles.oil-gas-journal.exploration-development-2.2010.09.el-paso_enters_texas.QP129867.dcmp=rss.page=1.html



It is not clear if the $180m was for the 170m acres or for the additional 123,100.


Hedkandi