Walter Oil And Gas

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

Walter Oil and Gas has retained EnergyNet to sell its operated Headwaters project in Crockett County, Texas, in a negotiated transaction.

The package includes approximately 1,500 acres held by production in Buckhorn Field with six proved developed producing Ellenburger wells (six horizontal, two vertical). Production is 600,000 cubic feet of gas and 44 barrels of oil per day. The Ellenburger gas produces at 1,175 Btu per Mcf and received $7.25 per Mcf in February. Average net income is approximately $97,000 per month.

Upside includes opportunity for additional Ellenburger locations as well as sidetrack options for new laterals from existing horizontal wells. Two proprietary 3-D seismic data sets are available.

Also, Wolfcamp/Clearfork production is established or testing in nearby surrounding areas with multiple horizon potential within a full Wolfcamp section. A nearby Wolfcamp test showed high Btu gas of 1,200 Btu per Mcf. Penn shale drilling shows and flares in WOGC #2-16 pilot well.

The bid due date is July 19. Contact Chris Atherton, 832-654-6612, chris.atherton@energynet.com.