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 Welder Reserve Fund I, LP to market certain south Texas operated producing properties in Live Oak County. The assets include substantial upside opportunities, solid cashflow and midstream infrastructure.
As described above the sale package (1,117 gross acres, HBP) runs across multi-pay low risk conventional reservoirs and includes immediate upside through 13 recompletion opportunities and 3-proved undeveloped locations defined by Subsurface and 3-D seismic.
The package consists of 3 areas respectively offering opportunities to increase production:
Area #1: Ramirena Creek Overview
2-Wells. Acceleration Wells Offer Additional Upside
Cumulative Prod: 127.8 MBO & 69 MMCF
2-Pumping Units, 2-Separators, 6-Tanks & 2 Gun Barrels
Total Proved Reserves: 514.8 MBO
Area #2: Parker Heirs & LFW Overview
11-Wells. Recompletion Plans Designated to Maximize Production
Cum. Production: 379.4 MBO & 734.4 MMCF
1-Pumping Unit, 6-Separators, 9-Tanks & 2 Meter Runs
Total Proved Reserves: 1,181 MBO & 487 MMCF
Area #3: M&P Ranch, Gilligan & Iantha Rutledge Overview
6-Wells. Recompletion Presents 1.03 BCF of PBP Reserves
Cumulative Prod: 54.3 MBO & 1.98 BCF
5 Pumping Units, 4-Separators, 12-Tanks, 1 Gun Barrel & 4 Mi. of Gas Gathering Lines
Total Proved Reserves: 109 MBO & 1.15 BCF
Asset Highlights:
- SOUTH TEXAS ASSETS FOR SALE
- 19-Wells. 1,117-Gross Acres. All HBP.
- LUCILLE,HOCKLEY,PETTUS,YEGUA
- Live Oak Co. LOW RISK. MULTIPAYS.
- 3D SEISMIC. SUBSURFACE DEFINED.
- Up to 100% OPERATED WI; 76%-80% NRI
- Net Production: 85 BOPD & 313 MCFD
- Net Cash Flow: $90,000/Mn
- 13 Low-Cost PBP Recompletion Targets
- 3 Upside PUD Locations
- PDP Reserves: 300 MBO & 600 MMCF
- PDNP/PBP Rsrv: 1,500 MBO & 1.08 BCF
- Midstream Infrastructure In Place
- CONTACT EAG FOR ACCESS TO VDR
Click here to view the online data room or visit www.energyadvisors.com/deals to view our other 30+ assignments.
For more information, contact Richard Martin, Director with EAG, at rmartin@energyadvisors.com or 217-774-2495.
