Marketed: Chevron Legacy Permian Operated Assets, Andrews County, Texas

The following information is provided by EnergyNet. All inquiries on the following listings should be directed to EnergyNet. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

Chevron U.S.A. Inc. and Chevron MidContinent LP retained EnergyNet Indigo as the exclusive adviser for the sale of a conventional Permian oil position in Andrews County, Texas, in a sealed-bid offering closing Oct. 28.

The offering includes a legacy operated asset position covering roughly 13,705 net acres plus royalty interest, HBP leasehold and mineral fee in the Andrews/Parker Field.

Highlights:

• Legacy Operated Assets with Additional Royalty Interest within the Andrews/Parker Field in Andrews County, Texas:
  • 93 Operated Producing Wells with an Average Ownership of ~98% Working Interest and ~87% Net Revenue Interest
  • Producing from the Grayburg, Pennsylvanian, San Andres, and Wolfcamp Formations
  • 31 Injection Wells
  • Nine Royalty Wells with an Average Ownership of ~5%
• Stable Net Production of ~488 boe/d (~81% Oil) Last 12-month Average
  • Field Average Annual Decline of ~3%
• Last 12-month Average Net Cash Flow of ~$168,000/month
• ~15,860 Gross (~13,705 Net) Acres

Bids are due at 4 p.m. CDT on Oct. 28. The effective date of sale is Oct. 1.

For complete due diligence information visit indigo.energynet.com or email Cody Felton, vice president of business development, at Cody.Felton@energynet.com, or Denna Arias, vice president of corporate development, at Denna.Arias@energynet.com.