The following information is provided by E-Spectrum Advisors LLC. All inquiries on the following listings should be directed to E-Spectrum. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Cholla Petroleum Inc. is offering for sale non-producing properties within the Eastern Shelf of the Permian Basin in Scurry and Fisher counties, Texas. E-Spectrum Advisors has been retained as the exclusive financial adviser to Cholla.
Opportunity Overview
- 4,886 net acres in Scurry and Fisher counties, Texas
- Weighted average about 91.0% WI and 68.2% RI (75.0% NRI)
- Low-cost two-year extensions on 93% of the leases
- Significant inventory of lateral development locations
- Primary objective targets stacked intervals in the Strawn Sandstone
- EUR 331,000 barrels of oil and 676 million cubic feet of gas
- Greater than 80% IRRs at current strip pricing and differential
- Two approved water injection permits rated for 15,000 barrels per day of water
- Plan to spud B.L. Garrison 1 SWD well in October 2018
Offers are due Oct. 25. For information contact Jason Reimbold, senior vice president of E-Spectrum, at jreimbold@e-spectrumadvisors.com or 214-987-6109.
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