Orbit Energy Partners LLC

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

Orbit Energy Partners LLC has retained Energy Spectrum Advisors Inc. to sell certain oil and gas properties in South Louisiana. The properties are located in Acadia, Allen, Beauregard, Calcasieu, Cameron, Evangeline, St. Landry and Jefferson Davis parishes, Louisiana.

The properties include ownership in 30 non-operated wells producing 1,630 gross (235 net) barrels of oil equivalent (BOE). Net operating cash flow has averaged $311,722 per month for the twelve months ending June 2012. The sale also includes proprietary three-dimensional seismic data covering 499 square miles and licensed three-dimensional seismic data covering 752 square miles. A total of 85,280 gross acres is either under option or first right of refusal to lease in the proprietary three-dimensional seismic areas.

Proved reserves are 372,000 barrels of oil and 1,067 million cubic feet (MMcf) of natural gas, 80% of which is proved developed producing. Probable and possible reserves total 482,000 BOE. Additional upside exists in twenty identified prospects with gross unrisked potential reserves of 56 million BOE as well as unidentified prospects in the proprietary 3D seismic areas.

The Data Room opens Oct. 16. Bids are due Nov. 15. For additional information, contact Lindsay Sherrer, 214-987-6109 or lindsay.sherrer@energyspectrum.com