Texas American Resources Holdings has retained Bank of America Merrill Lynch and Anderson O&G Inc. to sell all of its East Texas assets.
The package includes 22 operated producing wells in the Cotton Valley and Pettet zones, on 2,750 net acres, primarily held by production, and 1,688 net acres of Haynesville rights. The Haynesville acreage has been derisked by numerous offset producing wells. Most of the acreage is in Panola County (Beckville Field) and has been relatively sparsely drilled, having a future drilling inventory of 71 wells in the Cotton Valley , Pettet, and Haynesville reservoirs.
Net production is 3.4 million cubic feet of gas equivalent per day. Net cash flow is approximately $515,000 per month. Net proved and probable reserves are 97 billion cubic feet equivalent.
Contact Bill Anderson, 214-270-0846, wanderson@andersonog.com.
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