The following information is provided by BMO Capital Markets Corp. All inquiries on the following listings should be directed to BMO Capital Markets. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
PayRock Energy LLC is offering for sale its South Texas Eagle Ford assets, according to BMO Capital Markets which has been retained as exclusive financial adviser to PayRock.
Highlights:
- Opportunity to acquire economic, highly contiguous, and de-risked acreage position in the Eagle Ford
- 11,212 gross / net largely undeveloped acres located in La Salle, McMullen and Dimmit counties, Texas
- 100% operated with 100% working interest
- Highly economic locations with average greater than 8,500 ft lateral length and robust EURs of greater than 100 barrels of oil equivalent per ft
- Executable optimized development plan on 660-ft well spacing supports 63 gross drilling locations in the Lower Eagle Ford
- Volatile oil window provides good liquids content with favorable pressure and gas volumes to sustain solution gas drive
- June 2019 net production of 2,371 barrels of oil equivalent per day (74% liquids) from four gross wells
- Offset activity by top tier operators including EOG Resources Inc., Chesapeake Energy Corp., XTO Energy Inc., Sundance Energy Australia Ltd., EP Energy Corp. and Carrizo Oil & Gas Inc.
- Significant upside potential from Upper Eagle Ford and Austin Chalk
- EOR pilots being delineated near PayRock's acreage position
- Favorable marketing contracts and no minimum volume commitments or acreage dedications
![PayRock Energy South Texas Eagle Ford Asset Map (Source: BMO Capital Markets)](/sites/default/files/inline-images/PayRock%20Energy%20South%20Texas%20Eagle%20Ford%20Asset%20Map%20Source%20BMO%20Capital%20Markets.png)
The virtual data room will be available by mid-September. Contact Chelsea Neville at payrock.ef@bmo.com or 713-546-9703 for information.
Recommended Reading
Safety First, Efficiency Follows: Unconventional Completions Go Automated
2024-07-18 - The unconventional completions sector has seen a tremendous growth in daily stage capacity and operation efficiencies, primarily driven by process and product innovations in the plug and perf space.
TGS Awarded Ocean Bottom Node Data Acquisition Contract in North America
2024-07-17 - The six-month contract was granted by a returning client for TGS to back up the client’s seismic data capabilities for informed decision making.
ProFrac, IWS Taking the Garbage Out of Oilfield Data Transfer
2024-07-16 - ProFrac and Intelligent Wellhead Systems’ MQTT protocol promises to speed up communications at the frac site, not only by saving costs but laying the foundation for future technological innovations and efficiencies in the field, the companies tell Hart Energy.
Honeywell Bags Air Products’ LNG Process, Equipment Business for $1.8B
2024-07-10 - Honeywell is growing its energy transition services offerings with the acquisition of Air Products’ LNG process technology and equipment business for $1.81 billion.
Give Us a Signal: Tech Firm Ups E&P Coverage in Remote Plays
2024-07-02 - As E&Ps struggle to transmit information over public networks in out-of-the-way oil and gas basins, tech firm Digi is working to improve its reception.