Maxim Barskiy, the former deputy CEO of TNK-BP is now the head of Matra Petroleum. The company, led by Mr. Barskiy, announced recently that it will purchase several leases in Texas valued at over USD28 million.

Matra Petroleum U.S.A., a subsidiary of the parent company directed by Mr. Barskiy, issued a statement that the company entered into an agreement, which allows it to make a series of investments in the U.S. onshore oil and gas sector. Under the Purchase Agreement, Matra U.S.A., through a series of investments, may acquire up to 38,746 net acres, across 50 leases located in the Texas Panhandle, with internally estimated remaining recov­erable reserves of 10,575 Mboe, av­eraging 68 percent oil.

The leases in the aggregate have existing well stock of 221 wells and an estimated 379 new well locations. Current production across the leas­es is approximately 60 barrels of oil equivalent per day.

The agreement is expected to be completed by the middle of 2014. Matra Petroleum recently sold its li­cense for the Arkhangelovskoye and the Sokolovskoye oilfields, acquiring USD35 million as a result of the deal. Mr. Barskiy, who holds a stake in Ma­tra Petroleum, considered acquiring new assets in Russia, Latin America, and the U.S.

Maxim Barskiy purchased 29.7 per­cent of the company nearly a year

ago and became the entity’s CEO. Winpro Ventures Corp. owns a stake in Matra Petroleum purchased by Mr. Barskiy. Earlier in 2013 Alltech Capi­tal Limited obtained half of Winpro Ventures Corp.