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.

Novo Oil & Gas LLC has retained Detring Energy Advisors to market for sale its oil and gas leasehold and related assets located in Ector County, Texas of the Central Basin Platform.

Nova Oil & Gas Location Map Ector County Central Basin Platform (Source: Detring Energy Advisors)

The assets offer an attractive opportunity to acquire a large-scale, unconventional resource play with multiple target zones analogous to the prolific Stack play of central Oklahoma, according to Detring.

Asset Highlights:

  • About 14,600 Net Acres | Contiguous, Operated Position
    • No material expirations until April 2020, with operator-friendly continuous development clauses
    • Contiguous position ideal for extended laterals and pad development
    • Development plan includes about 120 operated horizontal locations targeting the Meramec/Barnett Shale (six wells per section spacing)
    • 1,800 boe/d (IP) / 2.3 million boe (EUR) at about 75% liquids (three-stream)
  • High-Quality Rock Underpinned by In-Depth Technical Characterization
    • The Assets target Mississippian-aged rock transitioning from massive carbonate to organic-rich shale (Stack analog) with the added benefit of the prolific unconventional Barnett Shale
      • Average petroleum system thickness of about 700 ft with dual source rocks and OOIP of more than 100 million barrels of oil per section (Barnett through Woodford)
      • Comprehensive technical analysis completed by Novo including whole core, diagnostic fracture injection testing (DFIT), and oil-soluble tracer analysis
    • Highly economic proximal results validate commercial viability of the Barnett with more than 30 horizontal wells drilled/in-progress

Process Overview:

  • Evaluation materials available via the virtual data room on Oct. 29
    • Data room presentations available on request
  • Proposals due Dec. 5

For information visit detring.com or contact Melinda Faust at mel@detring.com or 713-595-1004.

Onshore