BTO Venture Inc.

Transaction Type
Sellers
Marketers
Post Date
Close Date
Estimated Price
0MM
Description

BTO Venture Inc. has retained Energy Spectrum Advisors Inc. to sell certain operated oil properties in North Texas. The properties are located in the KMA Oil Field in Wichita County, Texas.

The package includes ownership in approximately 170 producing wells with a 100% working interest (approximately 81% net revenue interest) on 2,349 gross / net contiguous acres, 100% of which is held by production. Net production is 350 barrels of oil per day (100% oil) from shallow sands ranging from 450 – 3500 ft. Net operating cash flow has averaged approximately $790,000 per month. The sale also includes BTO’s 50% ownership in a gas processing plant and 3 workover rigs that service the properties.

Proved Producing reserves are 1.4 million barrels of oil. Proven upside includes over 200 low cost recompletion, new drill, and warterflood opportunities that can be funded entirely out of cash flow.

The data room opens Oct. 1. Bids are due Oct. 30. For more information, contact B.J. Brandenberger at 214-987-6145 or bj.brandenberger@energyspectrum.com.