The following information is provided by Greenhill and Co. LLC. All inquiries on the following listings should be directed to Greenhill. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Navitas Petroleum Onshore LLC has engaged Greenhill and Co. LLC as its financial adviser for the sale of its nonoperated properties in Webster, Thompson, Manvel and East Hastings Fields in Texas.
Key Asset Highlights:
- Approximately 50% working interest (approximately 39% net revenue interest) across four core Gulf Coast Fields operated by Denbury
- Located in Brazoria, Fort Bend and Harris counties, Texas
- 2022E net production of approximately 1,700 boe/d (>95% oil); 2022E Operating Cash Flow of $41 million
- Long-lived, resilient fields with approximately 8% annual exponential decline
- Successful, proven Frio Sand horizontal development with strong well economics
- Denbury maintains an active recompletion and horizontal drilling program with plans to further increase activity
- Near-term line of sight to production growth with approximately seven gross horizontal wells expected to be TIL’d in 2022
The virtual data room opened on May 16. Bids along with a preliminary markup of purchase and sale agreement are due before 5 p.m. CST on June 23. For information contact Thomas Deskin at thomas.deskin@greenhill.com.
Recommended Reading
DNO Makes Another Norwegian North Sea Discovery
2024-12-17 - DNO ASA estimated gross recoverable resources in the range of 2 million to 13 million barrels of oil equivalent at its discovery on the Ringand prospect in the North Sea.
Wildcatting is Back: The New Lower 48 Oil Plays
2024-12-15 - Operators wanting to grow oil inventory organically are finding promising potential as modern drilling and completion costs have dropped while adding inventory via M&A is increasingly costly.
DNO Discovers Oil in New Play Offshore Norway
2024-12-02 - DNO ASA estimated gross recoverable resources in the range of 27 MMboe to 57 MMboe.
Freshly Public New Era Touts Net-Zero NatGas Permian Data Centers
2024-12-11 - New Era Helium and Sharon AI have signed a letter of intent for a joint venture to develop and operate a 250-megawatt data center in the Permian Basin.
Baker Hughes: US Drillers Keep Oil, NatGas Rigs Unchanged for Second Week
2024-12-20 - U.S. energy firms this week kept the number of oil and natural gas rigs unchanged for the second week in a row.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.