DALLAS, March 12, 2026 - Baker Botts L.L.P., a leading international energy, technology, and life sciences law firm, advised Trailblazer Energy Resources, LLC ("Trailblazer") in its acquisition of substantially all assets of Pillar Oil & Gas, LLC ("Pillar"), a portfolio company of Old Ironsides Energy.

The acquisition adds 29,806 net acres in Atascosa County in the Eagle Ford Oil Window, approximately 90% of which is held by production. Trailblazer now holds 60,420 net acres across Atascosa and Frio Counties, focused on the Eagle Ford, with additional exposure to the Pearsall Shale. Including its East Texas assets, Trailblazer’s total acreage reaches 118,106 acres. The acquired position includes 134 identified drilling locations, a majority of which are extended lateral opportunities.

The acquisition increases Trailblazer's current production to about 5,500 net BOE/d, more than doubling the company’s production. The operator expects to significantly grow production through its planned drilling program. The deal also increases Trailblazer’s combined proved reserves by 196%.

The transaction was funded with internal funds on hand and new equity, together with borrowings under Trailblazer’s new senior secured reserve-based lending facility. The facility has a total commitment of $400 million, an initial borrowing base of $85 million, and an initial draw of $75 million. 

“This acquisition fundamentally changed Trailblazer's scale in the Eagle Ford and gave them a focused position to develop,” said Baker Botts Oil and Gas Co-Chair Gerry Morton. “We were proud to help them execute both the acquisition and the financing so they could move quickly when these assets became available.”

Headquartered in Tulsa, OK, Trailblazer Energy Resources is a proven operator of upstream and midstream energy assets across Southern and Southeastern Texas. The company focuses on acquiring and exploiting high-quality producing properties with significant development upside while maintaining a disciplined financial posture.

For additional information, Trailblazer’s release is available here. 

Baker Botts Lawyers/Offices Involved:

Oil and Gas: Gerry Morton (Partner, Houston); Megan Young (Senior Associate, Houston); Lucy Shoemaker (Associate, Houston)

Corporate: Bryan Henderson (Partner, Dallas); Clint Culpepper (Partner, Austin); Delaram Peimani (Senior Associate, Austin); Rusty G. Shellhorn (Senior Associate, Dallas); Madeline McCune (Associate, Houston); JD Oliver (Associate, Dallas)

Income Tax: Steve Marcus (Partner, Dallas); Jordan Hahn (Partner, Dallas)

Environmental: Liz Singleton (Special Counsel, Houston)

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