Corlena Oil Co. II LLC is selling 100% operated properties in the Granite Wash Play in the Texas Panhandle.
The properties are located in Roberts County and consist of 540 gross/net acres, all HBP. E-Spectrum Advisors LLC has been retained to handle the sale.
The package includes eight producing wells, two of which are horizontal. Net proved reserves are 1,884 million barrels of oil equivalent (boe) with a PV-10 value of $23.3 million.
Average trailing 12-month production ending April 2015 was 463 boe/d, primarily oil and liquids rich natural gas. During the same period of time, the properties’ average net operating cash flow was $466,784 per month.
Retained acreage depths include from the top of the Kansas City Formation to the top of the Morrow Formation.
The online data room opened July 14. Bids are due Aug. 13. For information contact Will Hundley, with E-Spectrum Advisors LLC, at 214-987-6153.
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