These properties include 77 wells in Starr and Hidalgo Counties, 60 of which are currently operated by Milagro Exploration, also a subsidiary of Milagro Oil & Gas.
The purchase of the producing assets adds about 3mmcfe per day net to Milagro, with proved reserves of about 15bcfe.
The company said with this and its previous acquisitions in 2011, it has now met its goal of replacing projected 2011 production.
US-based Milagro Oil & Gas is engaged in the acquisition, development, exploitation and production of crude oil, natural gas and natural gas liquids.
