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.
YTEF Non-Op Capital LLC, an affiliate of Millennial Energy Partners, retained EnergyNet for the sale of certain oil and gas properties and related assets located in Webb County, Texas.
The opportunity, EnergyNet Lot Number 97234, comprises nonoperated working interest of 50% with an established net production of roughly 7.1 MMcfe/d (last five-month average) in six SM Energy wells located in the condensate window of the Eagle Ford Basin in Webb County, Texas. EnergyNet has been retained by Millennial Energy Partners as the exclusive adviser to assist with this sealed-bid transaction.
Highlights:
- Nonoperated working interest in six wells
- Working Interest 50% / Net Revenue Interest ~38%
- Last five-month average following successful workover and gathering overhead:
- Net production of 3,487 Mcf/d of gas, 124 bbl/d of oil and 482 bnpd
- Net operating income of $1.27 million per month
- Lifting cost of $0.14/Mcfe
- Decline rate of 0.2% (May-July)
- Production primarily sourced from the Eagle Ford Shale and Austin Chalk reservoirs
- Stable and significant natural gas resource with attractive forward pricing
- Favorable field level gathering and compression agreement in place with a primary term through May 31, 2031
- Tag rights to SM asset-level exit
![Hart Energy September 2022 - EnergyNet Marketed Map 1 - Millennial Energy Partners Webb County Texas Package](/sites/default/files/inline-images/Hart%20Energy%20September%202022%20-%20EnergyNet%20Marketed%20Map%201%20-%20Millennial%20Energy%20Partners%20Webb%20County%20Texas%20Package.jpg)
![Hart Energy September 2022 - EnergyNet Marketed Map 2 - Millennial Energy Partners Webb County Texas Package](/sites/default/files/inline-images/Hart%20Energy%20September%202022%20-%20EnergyNet%20Marketed%20Map%202%20-%20Millennial%20Energy%20Partners%20Webb%20County%20Texas%20Package.jpg)
Bids are due at 4 p.m. CDT on Sept. 15. The effective date of sale is Sept. 1. A virtual data room is available.
For complete due diligence information visit energynet.com or email Cody Felton, managing director, at Cody.Felton@energynet.com, or Denna Arias, executive director of acquisitions and divestments, at Denna.Arias@energynet.com.
Recommended Reading
Exxon Mobil Goes Long with Permian’s Poker Lake Well
2024-06-04 - Exxon Mobil’s Permian wells manager tells Hart Energy about the successes and challenges in drilling one of the longest lateral wells in the basin.
Wood Mackenzie: OFS Costs Expected to Decline 10% in 2024
2024-07-30 - As service companies anticipate a slowdown in Lower 48 activity, analysts at Wood Mackenzie say efficiency gains, not price reductions, will drive down well costs and equipment demand.
EOG Resources Wildcatting Pearsall in Western Eagle Ford Stepout
2024-07-17 - EOG Resources spud the well June 25 in Burns Ranch with rights to the Pearsall well about 4,000 ft below the Eagle Ford, according to myriad sources.
Amid Flagging US Activity, OFS Sector Looks to 2025—and Overseas
2024-08-13 - Despite a slowdown in U.S. activity expected to last until 2025, overseas and offshore markets helped the oilfield services sector deliver solid second-quarter results.
URTeC: E&Ps Tap Refrac Playbook for Eagle Ford, Bakken Inventory
2024-06-17 - Refracs and other redevelopment projects might not be needle-moving growth drivers—but they’re becoming more common for E&Ps levered in maturing plays like the Eagle Ford and Bakken, experts discussed at URTeC 2024.