The following information is provided by TenOaks Energy Advisors LLC. All inquiries on the following listings should be directed to TenOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
CBP Resources LLC retained TenOaks Energy Advisors LLC for the sale of its operated, conventional oil properties on the Central Basin Platform and Northern Shelf within the Permian Basin in an offering closing Nov. 19.
Highlights:
- Three legacy oil fields in Garza, Ward and Ector Counties, Texas
- 6,367 net acres (100% HBP) | High working interests
- Net production: 640 barrels of oil equivalents per day (95% oil)
- Vertical targets: Queen (2,400 ft) and San Andres (2,800 ft)
- Forward 12-month operating cash flow: $4.8 million
- Upside inventory provides the ability to grow production while generating meaningful free cash flow
- Low-cost vertical infill drilling, refrac, and deepening candidates
- Waterflood enhancement / optimization projects
CBP will entertain offers for the entire package or by field area, said TenOaks, which is acting as the company's exclusive financial adviser in connection with the transaction.
Bids are due by noon CST Nov. 19. The virtual data room will be available starting Oct. 16.
For information visit tenoaksenergyadvisors.com or contact Forrest Salge, TenOaks vice president, at 214-420-2327 or Forrest.Salge@tenoaksadvisors.com.
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