Citation Oil & Gas Corp.

Transaction Type
Sellers
Marketers
Basin
Permian
Field
Goldsmith Cummin Deep
Post Date
Close Date
Estimated Price
0MM
Description

Citation Oil & Gas Corp. has retained The Oil & Gas Asset Clearinghouse to sell certain nonoperated producing assets targeting long-lived Permian reserves in Texas, in a negotiated transaction.

The package includes a 16.4% working interest (14.3% net revenue interest) in the Goldsmith Cummin Deep unit, comprising 221 producing wells operated by Apache Corp. in Ector County. Net production was 3,284 barrels of oil and 11.6 million cubic feet of gas for the month of May. Average monthly net cash flow is approximately $167,645.

Upside includes additional infill drilling and leaseline development opportunities, a producer reactivation program, injection conformance work and a pilot waterflood.

Bids are due by early September. The effective date is Sept. 1. Contact Verna Ray, vray@ogclearinghouse.com, 832-601-7662.