The following information is provided by Energy Advisors Group Inc. (EAG), formerly PLS Divestment Services. All inquiries on the following listings should be directed to EAG. EnerCom Inc. is not a brokerage firm and does not endorse or facilitate any transactions.

Deal Summary

Energy Advisors Group has been retained by Prime Systems to market their development program in Starr Co., TX.

Prime Systems is seeking a capital raise for a Drill-Ready Horizontal Well, which will be utilizing Baker Hughes LWD Directional Drilling & Open-Hole Gravel Pack Completion technique to produce from Proven Primary Reserves (260,000 MBO).

We are looking for an Operator or Non-Operated Partners to make a $2.8 MM investment to drill the HZ well and expect a payout in less than 6-months. For more information please review the provided Teaser for this package.

Prospect Information:
—Ready-to-Drill Horizontal Well through entire field (3,000′ Lateral)
—11’ Avg. Net Pay; 1,800′ MD Reservoir
—ESP for Accelerated Prod. in Years 1 & 2
—Baker Hughes Will Provide LWD Directional Drilling & Open-Hole Gravel Pack Completion
—Baker Hughes Technique Will Increase Volumes 30%
—3rd Party Engineering Available (Modeled by Prosper)
—1P: 260 MBO 2P: 560 MBO
—Expected IP: 940 BOPD
—Drill & Completion Costs : 2,800,000

About the Field
—Proven Productive Stratigraphic Trap
—Historical Shallow Oil Field
—O’Hern & Frio Sands
—Starting in 1949, the field was underdeveloped with 9 wells (40-acre spacings) recovering only 9.8%
—OOIP: 2,769 MBO (Infield Reserves: 560 MBO)
—A similar historical field within 3-mi exists with documented successful primary and sec. recovery

 

Asset Highlights:

  • SOUTH TEXAS HZ DEVELOPMENT
  • DRILL-READY 5,400′ HZ WELL. 9 PAY ZONES
  • HISTORICAL SHALLOW OIL FIELD
  • Baker Hughes Completion Technique
  • OPEN-HOLE GRAVEL PACK
  • O’HERN & FRIO SANDS.
  • 3,000′ Lateral. Reservoir: 1,800’ MD.
  • 100% Operated or Non-Operated WI
  • Expected IP: 940 BOPD
  • All Leases in Place.
  • Generator Expects Less than 6-Month Payout.
  • Proven (Primary) Reserves: 260,000 BO
  • Drill & Completion Costs: $2.8 MM

Drill-Ready Primary Oil Reserves - Energy Advisors Group

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For more information, contact Blake Dornak, A&D Director EAG, at [email protected], Office 713-600-0169 or Cell 903-390-6803.

CODE DV 6545


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