Double Eagle Energy Holdings III LLC and FourPoint Energy have formed a new company named DoublePoint Energy LLC, which will be a pure-play Midland Basin company with over 70,000 acres in the core areas of the oil-rich, multi-pay zones in Midland, Glasscock, Martin, Howard, Upton and Reagan Counties, Texas. The assets of the new company are a combination of Double Eagle’s existing Midland Basin acreage and production, along with additional assets that were recently acquired from undisclosed sellers. DoublePoint will continue to consolidate its position in its core areas through bolt-on acreage acquisitions and acreage trades while investing additional capital in an active drilling program.

Currently, Double Eagle has one rig running, and as field and drilling operations are transitioned to the combined company, DoublePoint plans to ramp up drilling and development activity over its footprint, which has been largely undeveloped to date.

For more information, visit www.fourpointenergy.com or www.doubleeagledevelopment.com.