Marketed: Ovintiv Permian Asset Sale
Transaction Type
Sellers
Marketers
Basin
Permian Basin
Announce Date
Post Date
Close Date
Room Opening Date
Estimated Price
0MM
Description
Ovintiv Inc. is looking to sell some operated assets in the Permian Basin.
The Denver-based E&P has retained Eagle River Energy Advisors LLC to market a portion of its operated, oil-weighted legacy assets in Andrews and Martin counties, Texas.
The opportunity, for wellbore-only interests, includes 79 vertical wellbores—18 in Andrews County and 61 in Martin County, according to Eagle River’s marketing materials. The daily net production in July was 121 boe/d (99% oil).
The assets, which include production in the Wolfcamp, Spraberry and Dean formations, have proved developed producing (PDP) net reserves of approximately 303,000 boe (96% oil) and a PDP production decline of approximately 11%, Eagle River said.