The following information is provided by Energy Advisors Group (EAG). All inquiries on the following listings should be directed to EAG. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

United Oil & Gas retained Energy Advisors Group (EAG) to market for sale a material interest and operatorship in its 100% owned interest in the 5.5 million acre Walton Morant license in offshore Jamaica. The offering is characterized by a commitment to drill a test well by January 2024 with SPUD required by January 2026.

This is a world-class opportunity to unlock a new basin in close proximity to the Gulf of Mexico with the initial 11 prospects and leads yielding mean recoverable resources of more than 2.3 Bbbl as audited by Gaffney Cline & Associates.

Key highlights:

  • Gaffney Cline & Associates have audited the drill-ready target prospect with mean resources of 400 MMbbls
  • Standalone success on hitting the mean target is expected to achieve NPV10 of $2.5 billion at $60 oil
  • The test well cost is estimated to be $30 million and provides exposure to own a material interest in the entire license
  • The initial target is a carbonate platform and shows strong evidence of reservoir trap and intact seal, Cretaceous kitchen source and live oil seeps
  • Recent advanced seismic relative dispersion technical work provides further evidence of reservoir porosity and permeability, the presence of a seal, and additional reservoir potential
  • The License, formerly owned by Tullow, is well-supported by the Jamaican government with attractive fiscal terms
EAG United Oil & Gas

Upon execution of a confidentiality agreement, EAG will provide access to the Virtual Data Room, open now.

For more information visit energyadvisors.com or contact Cole Reynolds, director at EAG, at cole@energyadvisors.com or 281-809-6186, or Adrian Goodisman, partner at EAG, at agoodisman@energyadvisors.com or 713-600-0131.

Comments