Ram Energy Resources Inc., Tulsa, Okla, (Nasdaq: RAME) plans to acquire privately held Ascent Energy Inc., Plano, Texas, for $289.5 million in cash, stock and warrants. Assets include approximately 31,534 gross (18,478 net) acres of developed conventional natural gas and oil properties in South and East Texas, Oklahoma and Louisiana. Ascent also owns approximately 84,798 gross (70,293 net) acres of unconventional shale gas leases in the Barnett shale in North Texas, the Woodford shale and the Caney shale in Oklahoma, as well as the Devonian shale in Appalachia. Proved reserves total 18.6 million barrels of oil equivalent, consisting of 8.5 million barrels of proved developed producing reserves, 1.3 million barrels of proved developed nonproducing reserves and 8.8 million barrels of proved undeveloped reserves. Net production is 3,162 barrels of oil equivalent. Of Ascent's proved reserves, approximately 49% are gas, 44% are oil and 7% gas liquids.
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