Chalker Energy Partners III LLC

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

Chalker Energy Partners III LLC, a Quantum Energy Partners portfolio company, has retained Raymond James and Associates Inc. to sell certain assets in the Texas Panhandle.

The package includes 22,750 gross leasehold acres (17,000 net) in the oil trend of the Cleveland sand play and the Tonkawa sand play in Lipscomb, Hemphill and Ochiltree counties. Three assets feature producing horizontal Cleveland wells and one nonoperated horizontal Tonkawa well drilled on the property following development of previous vertical Cleveland and Tonkawa production in fields including Lipscomb, Lipscomb SE, Higgins SW and Kelln.

Gross production as of March 31 was 1,452 gross barrels of oil equivalent per day (1,142 net barrels equivalent, 77% liquids) from three production Cleveland wells.

A fourth Cleveland well is scheduled to spud in early to mid-May. Upside includes potential to drill more than 240 low-risk horizontal Cleveland and Tonkawa locations.

The data room opens May 15. The bid due date is June 15. The effective date is May 1. Contact Karen Jacobson, 713-278-5286, karen.jacobson@raymondjames.com.