The following information is provided by TenOaks Energy Advisors LLC. All inquiries on the following listings should be directed to TenOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Callon Petroleum Operating Co. retained TenOaks Energy Advisors as its exclusive adviser in connection with the sale of certain operated Midland Basin properties in West Texas.
Highlights:
- Tier 1 Operated Midland Basin footprint across four units in Midland and Howard counties, Texas
- Combined 1,150 net acres with future development flexibility (100% HBP / all depths owned)
- Proven asset with excellent results from 18 horizontal wells on position
- Legacy Production Base with Substantial Cash Flow
- Net production of 964 boe/d (78% Liquids)
- Projected next 12-month PDP cash flow: $11.1 million
- PDP PV-10: $44 million / Total PV-10: $109 million
- Proven, High Return, Drill-Ready Locations
- 32 quantified horizontal locations targeting the Middle Spraberry, Lower Spraberry, Wolfcamp A and Wolfcamp B formations
- Excellent IRRs based on current Nymex Strip pricing
Bids are due at noon CST on Aug. 3. Signing of a purchase and sale agreement is targeted by Aug. 17.
A virtual data room will be available starting July 1. For information visit tenoaksenergyadvisors.com or contact Lindsay Sherrer at TenOaks Energy Advisors at 214-420-2324 or Lindsay.Sherrer@tenoaksadvisors.com.
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