Exaro Energy II LLC

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

Exaro Energy II LLC has retained Macquarie Tristone to sell certain assets in South Texas.

The package includes 100% working interest (87.5% net revenue interest) in 23,140 gross acres (23,035 net) in the Sun Lyra complex in Starr County featuring 43 producing wells. Primary production is from the Vicksburg sands with additional contribution from the Frio. Leases are all HBP with rights to the base of the Vicksburg; one minimal preferential right exists and 89 special use authorization are in place

Net production is 26 million cubic feet of gas equivalent per day. High Btu gas in the Vicksburg includes more than 1,500 barrels of gas liquids and condensate per day (61% of total revenues). Proved reserves are 189 billion cubic feet equivalent and proved and probable reserves are more than 200 billion cubic feet equivalent.

Upside includes 43 proved undeveloped locations and 15 behind-pipe completions (two proved undeveloped recently converted to proved developed producing).

The bid due date is June 28. Contact Tom Duncan, 713-651-4223, tom.duncan@macquarie.com.