Prime Rock Resources, Midland, a portfolio company of Lime Rock Partners, and privately held New Dawn Energy LLC, Houston, have agreed to jointly develop properties contributed by both companies in the Cretaceous Austin chalk play of Louisiana.

The effort involves 120,000 net acres in Allen, Avoyelles, Beauregard, Rapides, and Vernon parishes, with most in Masters Creek oil and gas field. The companies expect development to begin in the fourth quarter.

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