The following information is provided by EnergyNet. All inquiries on the following listings should be directed to EnergyNet. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
323 Exploration LLC retained EnergyNet for the sale of more than 12,000 net leasehold acres in West Texas through a sealed-bid offering.
The offer comprises both non-producing fee and state leasehold located in Pecos and Terrell counties, Texas. The assets are offset by over 100 producing wells including active horizontal Woodford, Strawn and Devonian producers.
Highlights:
- 8,461.40 Gross / 8,282.48 Net Non-Producing Fee Leasehold Acres
- 100% of Oil and Gas Leases (Delivering 75.00% Net Revenue Interest)
- Three-Year Term | Expiring 07-17-2020
- Two-Year Option to extend
- 3,969.36 Gross / 3,969.36 Net Non-Producing State Leasehold Acres
- 100% of Oil and Gas Leases (Delivering 75.00% Net Revenue Interest)
- Five-Year Term | Expiring 03-23-2020
- Two-Year Option to Extend
- 113 Active Offset Producers
- Two Horizontal Woodford | Eight Horizontal Strawn | Three Horizontal Devonian
- Area Operators include Brahman Resource Partners LLC, Chevron U.S.A. Inc., Endeavor Energy Resources LP, White Rock Oil & Gas LLC and XTO Energy Inc.
Bids are due at 4 p.m. CST April 10. For complete due diligence information energynet.com or email Cody Felton, vice president of business development, at Cody.Felton@energynet.com, or Denna Arias, director of transaction management, at Denna.Arias@energynet.com.
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