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.
Cholla Petroleum Inc. has retained TenOaks Energy Advisors LLC as its exclusive adviser in connection with the sale of its nonoperated working interest position in the Midland Basin.
Highlights:
- Contiguous nonop footprint in Howard County (21,766 gross | 6,573 net acres)
- Average Working Interest: 33% | Average Net Revenue Interest: 25%
- Controlled by reputable, regionally-focused operators HighPeak Energy Inc. and Hannathon Petroleum LLC
- PDP: $28 million PV-10 | $12 million Next 12-month cash flow
- Net production: 1,300 boe/d (70% oil) with three active permits on position
- >350 high-return drilling locations targeting the Wolfcamp A, Wolfcamp D and Lower Spraberry
- All three zones have been delineated by excellent wells results on and adjacent to the position
Bids are due at noon CST June 23. The signing of a purchase and sales agreement is targeted for July 15.
A virtual data room is available. For information visit tenoaksenergyadvisors.com or contact Trey Bonvino at TenOaks Energy Advisors at 972-489-6213 or Trey.Bonvino@tenoaksadvisors.com.
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