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.
Energy Advisors Group Inc. (EAG) was retained by Welder Reserve Fund I LP to market certain South Texas operated producing properties in Live Oak County. The assets include substantial upside opportunities, solid cash flow and midstream infrastructure.
As described above the sale package (1,117 gross acres, HBP) runs across multi-pay low risk conventional reservoirs and includes immediate upside through 13 recompletion opportunities and three proved undeveloped locations defined by Subsurface and 3-D seismic.
The package consists of three areas respectively offering opportunities to increase production:
Area #1: Ramirena Creek Overview
- Two wells. Acceleration wells offer additional upside
- Cumulative Production: 127,800 barrels of oil and 69 million cubic feet of gas
- Two pumping units, two separators, six tanks and two gun barrels
- Total proved reserves: 514,800 barrels of oil
Area #2: Parker Heirs and LFW Overview
- 11 wells. Recompletion plans designated to maximize production
- Cumulative production: 379,400 barrels of oil and 734.4 million cubic feet of gas
- One pumping unit, six separators, nine tanks and two meter runs
- Total proved reserves: 1.181 million barrels of oil and 487 million cubic feet of gas
Area #3: M&P Ranch, Gilligan and Iantha Rutledge Overview
- Six wells. Recompletion presents 1.03 billion cubic feet of PBP reserves
- Cumulative production: 54,300 barrels of oil and 1.98 billion cubic feet of gas
- Five pumping units, four separators, 12 tanks, one gun barrel four miles of gas gathering lines
- Total proved reserves: 109,000 barrels of oil and 1.15 billion cubic feet of gas
Highlights:
- South Texas Assets For Sale
- 19 wells. 1,117 gross acres. All HBP.
- Lucille, Hockley, Pettus, Yegua
- Live Oak County. Low Risk. Multi-pays.
- 3-D Seismic. Subsurface defined.
- Up to 100% Operated Working Interest; 76%-80% Net Revenue Interest
- Net Production: 85 barrels per day of Oil and 313,000 cubic feet per day of Gas
- Net Cash Flow: $90,000 per Month
- 13 Low-Cost PBP Recompletion Targets
- Three Upside PUD Locations
- PDP Reserves: 300,000 barrels of Oil and 600 million cubic feet of Gas
- PDNP/PBP Reserves: 1.5 million barrels of Oil and 1.08 billion cubic feet of Gas
- Midstream Infrastructure In Place
- Contact EAG For Access To Virtual Data Room
Click here to view the online data room or visit energyadvisors.com/deals to view our other 30+ assignments.
For more information, contact Richard Martin, Director with EAG, at rmartin@energyadvisors.com or 217-774-2495.
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