Marketed: Millennial Energy Partners Webb County, Texas Package

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

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.