Maverick Oil and Gas Inc., a junior independent based in Dallas, is selling its interests in some Barnett Shale properties in Wise County, TX, to an undisclosed buyer for $22.5 million. About $20 million of the proceeds will be used to repay outstanding debt. Maverick now will look for assets with near-term cash flow to support the company's operations and to complement its long-term resource play in the Fayetteville Shale of Woodruff County, AR, according to CEO James A. Watt. Maverick has about 125,000 acres in the Fayetteville Shale.
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