The following information is provided by EnergyNet. All inquiries on the following listings should be directed to EnergyNet. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Coterra Energy Inc. retained EnergyNet for the sale of its nonoperated working interest in the Denver Unit located across Yoakum and Gaines counties in West Texas.
The offering comprises an attractive opportunity to acquire substantial low-decline, oil-weighted production in the prolific Denver Unit, according to EnergyNet. Bids for the Permian Basin opportunity, Lot #95117, are due on Aug. 31.
Highlights:
- Production primarily from San Andres formation in the Yoakum and Gaines counties, Texas
- Average Working Interest ~1% / Various Tract Net Revenue Interests
- Six-month average 8/8ths production: 19,114 bbl/d of oil and 33,111 Mcf/d of gas
- Six-month average net production: 161 bbl/d of oil, 29 bbl/d of NGL and 55 Mcf/d of gas
- Six-month average net income: $288,844 per month
- Divestiture assets are operated by Occidental Petroleum
- Other Offset Operators include Exxon Mobil, Apache and Shell
Bidding opens at 2:35 p.m. CDT on Aug. 24 and closes at 2:35 p.m. CDT on Aug. 31. The effective date of sale is Aug. 1.
For complete due diligence information visit energynet.com or email Ethan House, managing director, at Ethan.House@energynet.com, or Denna Arias, executive director of acquisitions and divestments, at Denna.Arias@energynet.com.
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