GulfTex Energy LLC

San Antonio, Texas-based GulfTex Energy LLC, an EnCap Investments LP portfolio company, has retained Raymond James and Associates Inc. to sell certain operated and nonoperated assets in the gas-condensate window of the South Texas Eagle Ford.

The package includes an acreage position comprising 22,121 gross acres (7,697 net acres) in the Hawkville and Eagleville field areas in LaSalle, McMullen, DeWitt and Lavaca counties. The estimated average gross production for July was 18.5 million cubic feet equivalent per day, with net production of 1.3 million cubic feet equivalent per day (39% liquids) from four wells. One well on the acreage is scheduled to be frac'd in mid-August and an additional well is currently being drilled. Upside includes more than 100 horizontal drilling locations on 80-acre spacing.

In the Eagleville area, the assets involve a 70% operated interest (52.5% net revenue interest) in undeveloped acreage comprising 8,402 gross acres (5,601 net acres) near Eagle Ford producers operated by Pioneer Natural Resources Co., Petrohawk Energy Corp. and EOG Resources Inc.

In the Hawkville area, the nonoperated acreage position consists of working interests ranging from 10% to 17.69% in 13,719 gross acres (2,096 net acres), of which 9,416 gross acres (1,666 net acres) are in LaSalle County and are operated by Talisman Energy Inc. and approximately 4,303 gross acres (430 net acres) are in McMullen County and are operated by Petrohawk. More than 45 Eagle Ford wells have been drilled in Hawkville Field in LaSalle, McMullen and Webb counties, derisking the acreage and proving up the resource play.

Upside includes more than 150 horizontal locations on 80-acre spacing, with the opportunity to collaborate with leading Eagle Ford operators Talisman and Petrohawk.

The data rooms open Aug. 5. The bid due date is Aug. 31. The effective date is Sept. 1. Contact Chris Simon, Chris.Simon@RaymondJames.com, 713-278-5206.