ZaZa Energy Corporation, an independent oil and gas company, focuses on the exploration and production of unconventional and conventional oil and gas assets. The company operates primarily through joint ventures in the Eagle Ford East trend in east Texas and the Eagle Ford trend in south Texas. As of December 31, 2014, the company held approximately 45,000 net acres in its areas of operations; and proved reserves of approximately 1,011 thousand barrels of oil equivalent. Areas of Operations The company owns producing and non-producing oil and gas acreage in proven or prospective basins that are located in south Texas and east Texas. Almost all of its assets, including long-lived assets, are located within the United States. East Texas — Eagle Ford East Trend The company’s acreage in east Texas falls within an eastern extension of the Eagle Ford and Woodbine that it refers to as the Eagle Ford East trend. As of December 31, 2014, the company owned approximately 41,000 net acres in east Texas. Its use of ‘East Texas’ refers to Houston, Leon, Madison, Grimes, Walker, Trinity and Montgomery counties and the surrounding region. The company’s east Texas acreage is divided into two development areas. South Texas — Eagle Ford Trend The company’s acreage in south Texas is located principally in DeWitt and Lavaca counties and falls within the Eagle Ford trend. As of December 31, 2014, the company owned approximately 3,700 net acres in south Texas. Its use of ‘South Texas’ refers to DeWitt and Lavaca counties and the surrounding region. Joint Ventures East Texas Joint Venture with EOG Resources, Inc. (EOG) The company has a joint exploration and development agreement with EOG for the joint development of certain of its east Texas properties located in Walker, Grimes, Madison, Trinity, and Montgomery counties, Texas. As of December 31, 2014, approximately 147,000 net acres of the joint venture in east Texas were subject to this agreement and its subsequent amendments. South Texas Joint Venture with Sabine South Texas LLC (Sabine) The company has an agreement with Sabine, a subsidiary of Sabine Oil & Gas Corporation, for the joint development of a prospect in the Eagle Ford shale formation located in Lavaca and DeWitt counties, Texas. Under this agreement, Sabine agreed to jointly develop with the company approximately 7,600 gross acres that the company owned and that include a portion of the company’s interest in south Texas. Marketing and Customers The company’s oil production is sold at prices primarily tied to the spot oil markets for West Texas Intermediate. During the year ended December 31, 2014, EOG and Sabine accounted for approximately 81% and 12%, respectively, of the company’s total cash receipts. Strategy The company’s strategy is to improve shareholder value through focusing on the organic development of its existing assets within its core areas. Key components of the company’s business strategy are to obtain strategic and operational advantages by being a ‘First Mover’; reduce risk through joint ventures; and serve as the operator of 30 wells. Regulations The company’s operations generate some hazardous wastes that are already subject to the Federal Resource Conservation and Recovery Act and comparable state statutes. The company’s operations are subject to the Federal Clean Air Act and comparable local and state laws and regulations to control emissions from sources of air pollution. The company’s operations are subject to the requirements of the federal Occupational Safety and Health Act and comparable state laws. The company and its joint ventures substantially comply with the Federal Water Pollution Control Act and related federal and state regulations.
zaza energy corp (ZAZA:OTC US)
1301 McKinney Street
Houston, TX 77010
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To contact ZAZA ENERGY CORP, please visit www.zazaenergy.com. Company data is provided by Capital IQ. Please use this form to report any data issues.