GulfTex Energy announced the sale of its Eagle Ford Shale assets in 2010 for $50.4 million. The sale was accomplished in multiple transactions to three undisclosed buyers. The properties included 29,200 gross acres (12,762 net) in the gas condensate and oil window and were producing ~10.6 MMCFD and 832 BOPD gross (770 MCFD and 63 BOPD net) from five wells. Two wells were waiting on completion.

The assets were 74% operated by GulfTex on a net acreage basis. The non-operated assets are operated by Talisman, Petrohawk and Escondido Resources.

Raymond James Investment Banking acted as a financial advisor to GulfTex Energy for the sale of approximately half of the assets. Those assets were located in McMullen and La Salle Co., Texas.

GulfTex Energy, LLC was formed in September 2006 with equity from management and EnCap Investments. Management includes Brad Jauer, President & CEO, Richard Marshall, Vice President & COO and Van Taylor, CFO. Jauer was formerly President of Dolphin Petroleum; Marshall was formerly with Metano Energy.

The company is actively involved in the exploration and development of oil and natural gas assets in South Texas with headquarters in San Antonio, Texas.