The following information is provided by Detring Energy Advisors LLC. All inquiries on the following listings should be directed to Detring. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Chevron U.S.A. Inc. retained Detring Energy Advisors to market for sale certain of its oil and gas producing properties, leasehold and related assets located on the western slope of the Central Basin Platform in Winkler County, Texas.
The assets include meaningful low-decline, high-margin production, according to Detring, generating roughly $2.1 million of annual cash flow and a high working interest, fully HBP, operated footprint with upside potential consisting of recompletions, infill development drilling, prospective horizontal horizons and operational efficiency improvements.
Highlights:
- Legacy Assets with Operational and Development Opportunities
- Large, concentrated, HBP position provides complete operational control with the opportunity for value-add projects
- 10,010 net acres
- 100% Working Interest | 100% HBP
- Low royalty-burden (85% Net Revenue Interest)
- Well-maintained, albeit “underexploited” asset within Chevron’s portfolio
- Operational control provides opportunity to boost cash flow with additional operational oversight and capital budget
- Contiguous, operated acreage and well locations provide economies of scale for operations and workovers
- Large, concentrated, HBP position provides complete operational control with the opportunity for value-add projects
- Substantial Production Base (~380 boe/d | ~30% Liquids)
- Reliable, low-decline production providing a stable cash flow base
- $2.1 million next 12-month cash flow
- Shallow ~10% annual decline
- 16 currently producing vertical wells garnering a PV10 of $7.4 million
- PDP Net Reserves: ~1.4 MMboe (32% Liquids)
- PDP R/P: ~10 years
- Resilient cash flow stream supported by high revenue interests (~85%) and low lifting costs
- Reliable, low-decline production providing a stable cash flow base
Process Summary
- Evaluation materials available via the Virtual Data Room on Oct. 27
- Proposals due on Nov. 22
For information visit detring.com or contact Melinda Faust at mel@detring.com or 512-296-4653.
Recommended Reading
Lone Star State of Mind: Rockcliff Energy III Sets Sights on Texas Shale Assets
2025-03-05 - Rockcliff Energy III Executive Chairman Alan Smith and CEO Sheldon Burleson have their Quantum Capital-backed company’s Texas-sized ambition focused on the western Haynesville and the Eagle Ford.
Paradoxes and Power: Why DeepSeek AI May Be Good News for Energy
2025-03-05 - The lower cost and power demand of DeepSeek could be a positive for AI adoption and result in increased proliferation and demand, an analyst said.
Barnwell Enters Deal to Sell Water Resources Subsidiary
2025-03-05 - Barnwell Industries Inc. has entered a non-binding agreement to sell its water well drilling subsidiary Water Resources International Inc. to an undisclosed buyer.
ChampionX’s Aerial Optical Gas Imaging Platform Secures EPA Approval
2025-03-05 - ChampionX Corp.’s aerial optical gas imaging platform combines optical technology with a gimbal system to detect and locate methane leaks.
Devon Energy’s John Krenicki to Retire from Board
2025-03-05 - Krenicki plans to focus on his full-time responsibilities as vice chairman at private equity firm CD&R, Devon Energy said
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.