Trailblazer Energy Resources Announces Transformational Acquisition of Pillar Oil G Gas Assets

TULSA, Okla., March 11, 2026 /PRNewswire/ -- Trailblazer Energy Resources, LLC ("Trailblazer" or "TER"), a leading operator of upstream and midstream energy assets across Southern and Southeastern Texas, is pleased to announce the acquisition of substantially all assets of Pillar Oil C Gas, LLC ("Pillar"), a portfolio company of Old Ironsides Energy on February 27, 2026. This strategic acquisition marks a significant milestone in Trailblazer's growth strategy, positioning the company to be a pure-play Eagle Ford operator with expanded production capabilities and development opportunities.

Key Highlights of the Acquisition:

• Strategic Expansion in Eagle Ford: The acquisition adds 29,806 net acres in Atascosa County in the Eagle Ford Oil Window, with ~90% of the acreage held by production (HBP). This includes a substantial inventory of highly economic drilling locations, with 134 identified opportunities, of which a majority are extended lateral locations. Trailblazer now has 60,420 net acres in Atascosa and Frio Counties focused on the Eagle Ford with additional emerging Pearsall Shale upside. Including Trailblazer's East Texas assets, Trailblazer has 118,106 total acres.
• Increased Production: Pro forma for the acquisition, Trailblazer's current production increases to ~5,500 net BOE/d, more than doubling the company's production.
• Enhanced Reserves: The acquisition boosts Trailblazer's combined proved reserves by 196%. Trailblazer expects to significantly increase its production via its upcoming drilling program.
• Operational Synergies: Pillar's assets complement Trailblazer's existing assets in Frio and Atascosa Counties, enhancing operational efficiency and development potential.

Financing and Transaction Details: The acquisition is supported by internal funds on hand and new equity.

Additionally, Trailblazer has secured a $75 million initial draw under a new four-year, $400 million Senior Secured Reserve Based Lending facility, which features an initial $85 million Borrowing Base. The credit facility is led by Citizens Bank as Lead Arranger, Sole Bookrunner and Administrative Agent. Additional lenders include U.S. Bank, Arvest Bank, and Flagstar Bank. Proceeds from the facility were used to fund the acquisition, repay existing indebtedness, and cover associated transaction costs.

Post-Acquisition Strategy: Following the acquisition, Trailblazer plans to focus on its Eagle Ford operations in South Texas.

Leadership: Trailblazer is led by CEO Ralph Hill, an industry veteran with over 40 years of experience in upstream, midstream, downstream petroleum services and corporate executive roles. Under his leadership, Trailblazer has assembled a highly skilled technical and operational team to execute its growth strategy. Previously Ralph spent his career at The Williams Companies where he ultimately led the spin-off of WPX Energy.

"This acquisition represents a transformational opportunity for Trailblazer," said Ralph Hill, Chairman and CEO. "The addition of Pillar's high-quality Eagle Ford assets significantly enhances our production capabilities and development inventory, positioning us for long-term growth and value creation. We are excited to continue building on our legacy of operational excellence and delivering superior returns for our stakeholders."

About Trailblazer Energy Resources: 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.

In connection with the transaction, Baker Botts served as legal counsel to Trailblazer and Skadden served as counsel to Pillar.

Forward-Looking Statements: This press release contains forward-looking statements regarding Trailblazer Energy Resources' acquisition of Pillar Oil C Gas assets, future production, and development plans. Actual results may differ materially due to various risks and uncertainties. Trailblazer undertakes no obligation to update these statements except as required by law.

SOURCE Trailblazer Energy Resources, LLC