The following information is provided by RedOaks Energy Advisors. All inquiries on the following listings should be directed to RedOaks Energy Advisors. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
BASA PetroFund Management Ltd. has retained RedOaks Energy Advisors as the exclusive advisor in connection with the sale of certain non-operated properties located in East Texas. The East Texas non-operated working interest includes 400+ active produces, 25 active injectors and company-owned infrastructure, including an NGL processing plant.
Key Considerations
- Unique opportunity to acquire conventional non-operated working interest in cash generating assets in East Texas
- Position operated by private operator BASA Resources, Inc.
- BASA owns and operates over 3,600 wells in 50+ fields across Texas
- PDP PV-10: $21.1 MM
- Forecasted April 2023 net daily production: 385 Boepd (92% Liquids)
- NTM PDP net cash flow: $4.4 MM
- Well managed properties with consistent well performance and a low decline (4%) production profile
- BASA has increased production over the last year and will continue to keep production flat by executing RTP opportunities across the package
Bids are due at 12:00 p.m. CST on April 20. Upon execution of a confidentiality agreement, RedOaks will provide access to the virtual data room. For complete due diligence information, please visit redoaksenergyadvisors.com or email David Carter, partner, at David.carter@redoaksadvisors.com or Will McDonald, vice president, at will.mcdonald@redoaksadvisors.com.
Recommended Reading
Permian NatGas Hits 15-month Low as Negative Prices Linger
2024-04-16 - Prices at the Waha Hub in West Texas closed at negative $2.99/MMBtu on April 15, its lowest since December 2022.
US NatGas Futures Hit Over 2-week Low on Lower Demand View
2024-04-15 - U.S. natural gas futures fell about 2% to a more than two-week low on April 15, weighed down by lower demand forecasts for this week than previously expected.
Report: Freeport LNG Hits Sixth Day of Dwindling Gas Consumption
2024-04-17 - With Freeport LNG operating at a fraction of its full capacity, natural gas futures have fallen following a short rally the week before.
Freeport LNG Says Trains 1, 2 at Texas Facility May Shut Until May
2024-03-20 - Freeport LNG on March 20 said its Train 2 liquefaction unit at the Texas plant has been shut down, while Train 1 will be taken down imminently as it expects inspections and any subsequent repairs at both the units to be completed by May.
US NatGas Flows to Freeport LNG Export Plant Drop Near Zero
2024-04-11 - The startup and shutdown of Freeport has in the past had a major impact on U.S. and European gas prices.