ERG Resources LLC

Transaction Type
Sellers
Marketers
Basin
Gulf Coast
Post Date
Estimated Price
0MM
Description

ERG Resources LLC has retained PLS Inc. to offer Gulf Coast properties in Texas.

The package includes 100% operated working interest (81% net revenue interest) in 71 wells in the Grass Island and Port Neches areas in Calhoun and Orange counties, including 30 producing wells and five injectors. The wells are targeting the Farwell, Matagorda and Saluria pay zones.

Gross production is approximately 400 barrels of oil equivalent per day (325 barrels net). Proved reserves are 1.2 million barrels of oil (557,000 proved developed producing) and 2.1 billion cubic feet of gas (52 million proved developed producing). Monthly cash flow in October was $545,100.

Upsides includes defined 3-D seismic in the areas.

Contact Daniel Rojo, 713-650-1212, drojo@plsx.com.