S2 Energy LLC

Transaction Type
Sellers
Marketers
Basin
Gulf of Mexico
Field
Ship Shoal, West Delta
Post Date
Estimated Price
0MM
Description

S2 Energy LLC has retained Burks Oil & Gas Properties Inc. to sell certain assets offshore Louisiana.

The package includes average working interest of 74.6% working interest (53.7% net revenue interest) in Ship Shoal Blocks 47 and 64 and in West Delta Blocks 52, 54 and 55 in Louisiana's coastal waters. In Ship Shoal, S2 has interests in five wells on leases covering 1,753 gross acres and in West Delta, it has interests in five wells on leases covering 2,405 gross acres.

Working interest share of production is 258 barrels of oil and 1.49 million cubic feet of gas per day with recent net cash flow of $210,000 per month. Net proved reserves as of Oct. 1 were 248,000 barrels of oil and 839 million cubic feet per day.

Upside includes behind-pipe recompletion and three possible behind-pipe recompletions in the Ship Shoal area, and also one probable undeveloped drilling location. In West Delta, there are three possible behind-pipe recompletions and two probable undeveloped drilling locations.

Contact Richard Klauzinski, 281-580-4590, rklauzinski@burksoilandgas.com.