Marketed: Apache Permian Basin Eastern Shelf Exit

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

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

Apache Corp. retained Detring Energy Advisors for the sale of oil and gas producing properties, leasehold and related assets located in the Eastern Shelf of the Permian Basin as part of a full exit from the Eastern Shelf for the company. Th sale includes assets in Borden, Cottle, Crosby, Fisher, Garza, Kent and Scurry counties, Texas.

According to Detring, the assets offer an attractive opportunity to acquire substantial low-decline, oil-weighted production generating about $11 million of annual cash flow. Additionally, the high working interest, operated, waterflood asset positions with meaningful upside potential including waterflood optimization and expansion opportunities, operational efficiency improvements and infill development drilling.

Process Summary:

  • Evaluation materials available via the virtual data room beginning the week of Oct. 21
  • Proposals due the week of Nov. 18

Detring said Apache anticipates executing a purchase and sales agreement in mid-December, with closing occurring by Jan. 31.

For information visit detring.com or contact Melinda Faust at mel@detring.com or 713-595-1004.

Related Content