Cholla Petroleum Inc.

Transaction Type
Sellers
Marketers
Basin
Permian Basin; Eastern Shelf
Post Date
Close Date
Room Opening Date
Estimated Price
0MM
Description

The following information is provided by E-Spectrum Advisors LLC. All inquiries on the following listings should be directed to E-Spectrum. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

Cholla Petroleum Inc. is offering for sale non-producing properties within the Eastern Shelf of the Permian Basin in Scurry and Fisher counties, Texas. E-Spectrum Advisors has been retained as the exclusive financial adviser to Cholla.

Opportunity Overview

  • 4,886 net acres in Scurry and Fisher counties, Texas
    • Weighted average about 91.0% WI and 68.2% RI (75.0% NRI)
    • Low-cost two-year extensions on 93% of the leases
    • Significant inventory of lateral development locations
  • Primary objective targets stacked intervals in the Strawn Sandstone
    • EUR 331,000 barrels of oil and 676 million cubic feet of gas
    • Greater than 80% IRRs at current strip pricing and differential
  • Two approved water injection permits rated for 15,000 barrels per day of water
    • Plan to spud B.L. Garrison 1 SWD well in October 2018

Offers are due Oct. 25. For information contact Jason Reimbold, senior vice president of E-Spectrum, at jreimbold@e-spectrumadvisors.com or 214-987-6109.