Lonestar is an independent exploration and production company focused on the exploration, acquisition and development of unconventional oil and natural gas resources. Lonestar operates all of its principal projects in each of its three shale play positions, and all of its principal conventional crude oil properties. It is a core strategy of the company to operate each of its principal properties in order to control the quality of drilling, completion, operations and marketing of production from its wells. In total, Lonestar has accumulated approximately 38,191 net acres in the Eagle Ford Shale and Bakken and Three Forks plays and has achieved strong growth in terms of reserves and production.
Lonestar has built a portfolio of US onshore assets, that is diversified in terms of both geography and maturity profiles:
- Eagle Ford Shale: high quality portfolio of crude oil focussed leasehold assets with significant drilling and acquisition upside;
- Williston Basin: large prospective position (50,192 gross acres) which has successfully been tested for light oil from the Bakken and Three Forks formations;
- Conventional Onshore: largely operated, crude oil-focused asset base, with low-risk, low-cost development potential
Lonestar’s portfolio includes assets at various stages of the oil and gas exploration and development cycle and with markedly different risk profiles:
- The Eagle Ford Shale assets are in the early stages of development, and are expected to underpin the majority of growth in Lonestar’s production and cash flow over the next four years;
- The Williston Basin asset which is prospective for the Bakken and Three Forks formations, is in the exploratory phase and could deliver longer-term potential growth in reserves, production and cash flows.