Sequel Energy Ventures II LLC, JAG Operating LLC and RLI Properties LLC have retained Albrecht & Associates to sell certain assets in northern Louisiana.
The package includes all of the partners' interests in 124 producing properties on approximately 16,200 gross acres (12,280 net, 100% held by production) in 13 fields in Bossier, Claiborne, DeSoto and Webster parishes. The assets include two disposal wells and a gas-gathering system.
Projected April production is expected to be 235 barrels of oil, 2.6 million cubic feet of gas and 110 barrels of gas liquids per day. Net proved reserves are 2.5 million barrels of oil (780,000 barrels proved producing), 24.9 billion cubic feet of gas (8 billion proved producing) and 1.5 million barrels of gas liquids (410,000 barrels proved producing).
JAG Operating operates 78 of the 124 producing properties and all 28 of the proved undeveloped locations. The sellers' intend to transfer operations to the buyer of the properties.
Upside includes 11 proved developed nonproducing opportunities and 28 proved undeveloped drilling locations.
The bid due date is March 16. The effective date is April 1. Contact Harrison Williams, 713-951?9586, hwilliams@albrechtai.com.
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