Marketed: Foundation Energy Operated, Nonop Working Interest in Texas Wells

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.

Foundation Energy Management LLC retained EnergyNet for the sale of two asset packages in Texas totaling 105 wells, a chunk of which are located in Polk County.

In the first package (Lot 89587), Foundation Energy Fund IV-A LP is offering operated and nonoperated working interest in 23 wells plus one saltwater disposal in Polk County, Texas, through an auction closing Feb. 16.

Lot 89587 Highlights:

• Operated Working Interest in 23 Wells:
  • 96.12693% to 25.00% Working Interest / 69.211395% to 19.3125% Net Revenue Interest
  • 13 Producing Wells | One Saltwater Disposal Well | Eight Shut-In Wells | One Temporarily Abandoned Well
• Nonoperated Working Interest in the Producing Overton #1 Well:
  • 6.25% Working Interest / 4.38281% Net Revenue Interest
  • Operator: Arcadia Resources Inc.
• Six-month Average 8/8ths Production: 15 bbl/d of Oil
• 12-Month Average Net Income: $4,275/Month
• Operator Bond Required
• Mortgages to be Released at Closing

Bids are due for Lot 89587 by 1:45 p.m. CST on Feb. 16.

In another package (Lot 90862), Foundation Energy Fund IV-A LP is offering operated working interest in 82 wells in Eastland, Haskell, Jones, Runnels, Stephens and Stonewall counties, Texas, through an auction also closing Feb. 16.

Lot 90862 Highlights:

• Operated Working Interest in 82 Wells:
  • 100.00% to 75.00% Working Interest / 87.50% to 56.25% Net Revenue Interest
  • 43 Producing Wells | 14 Injection Wells | One Saltwater Disposal Well | 22 Shut-In Wells | Two Temporarily Abandoned Wells
• Six-month Average 8/8ths Production: 64 bbl/d of Oil and 32 Mcf/d of Gas
• Six-month Average Net Income: $51,827/Month
• Operator Bond Required
• Mortgages to be Released at Closing

Bids are due for Lot 90862 at 1:50 p.m. CST on Feb. 16.

For complete due diligence information on either package visit energynet.com or email Zachary Muroff, vice president of business development, at Zachary.Muroff@energynet.com, or Denna Arias, vice president of corporate development, at Denna.Arias@energynet.com.