The following information is provided by Energy Advisors Group Inc. (EAG), formerly PLS Divestment Services. 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.

Marathon Oil Co. is looking to sell one recently completed horizontal Marchand well located on trend with Southern Oklahoma Hoxbar Oil Trend (SOHOT) in Caddo County, Okla.

Marathon also has a larger package of acreage in the same area in which the company has sold some acreage. Their flexibility should give potential buyers comfort they are motivated to move both this small package and the larger offering.

On this well:

Marathon can deliver 99% operated working interest and 78% net revenue interest in one producing well and associated leases comprising 640 gross (634 net) acres 100% HBP including rights to deep Hoxbar intervals.

During November 2019, the Habanero well had gross production of 42 barrels per day (bbl/d) of oil 59,000 cubic feet per day of gas and net production of 33 bbl/d of oil and 46,000 cubic feet per day of gas—41 barrels of oil equivalent per day (boe/d) 6:1. Seller provided production data are used here. They are different from those pulled from Enverus, formerly Drillinginfo. The updated daily production could be downloaded in the confidential virtual data room.

Habanero 10-11-11-1H:

  • Operated by Poblano Energy LLC, a wholly owned subsidiary of MOC
  • 4,100 ft horizontal Marchand well
  • Completed: Feb. 28,2018 with 9.3 million lbs of proppant (about 2,280 lb/ft on 21-stages)
  • IP-30: 278 boe/d (86% oil)
  • 12-month Cumulative: 64,311 barrels of oil equivalent (84% oil)

The Harbanero well generated about $69,500 per month net cash flow fiscal eleven months ended Nov. 30, 2019.

Upside Development Potential:

The Habanero well lies within the proven Marchand/Hogshooter fairway where there is a continuous about 2,000 ft sand column with over 800 ft of good quality Hoxbar net sands. Unit Petroleum and Kaiser-Francis have been actively developing secondary Hoxbar targets horizontally with promising results over the last roughly five years.

Multi-pay Possibilities:

  • Hogshooter: Historical vertical production. Kaiser-Francis demonstrated successful horizontal development with the McPherson 20-9-11-1H well.
  • Medrano: 8-Horizontal wells drilled to the southeast between 2014-2015 by Unit Petroleum with optimistic results.
  • Avant: Historical vertical production with potential horizontal development.
  • Cottage Grove: Oil productive in the basin with quality net sands.
  • Culp: Historical vertical production with potential to horizontal development.

Highlights:

  • Caddo County, Okla., Lease For Sale
  • One Horizontal Well. 634 Net Acres (HBP)
  • Southern Oklahoma Hoxbar
  • Multi-Pay
  • Multiple Upside Targets For Future Operations.
  • Hogshooter, Medrano, Avant, Culp
  • Plus Cottage Grove Interval.
  • 4,100 ft Lateral Completed Early 2018
  • 99% Operated Working Interest and 78% Net Revenue Interest
  • Gross Production: 42 bbl/d of Oil and 59,000 cubic feet per day of Gas
  • Net Production: 41 boe/d (81% Oil)
  • 2019 Net Cash Flow: about $69,500 per Month
  • EAG Accepting Offers For Marathon Oil
  • Ask About Marathon Larger Package
  • Marathon Has Sold Some Acreage
Marketed: Marathon Oil Horizontal Oklahoma Well For Sale

Click here to view the online data room or visit energyadvisors.com/deals to view our other 30-plus assignments.

For more information, contact Carrie Calahan, with EAG, at ccalahan@energyadvisors.com or 713-600-0138.

Onshore