The following information is provided by TenOaks Energy Advisors LLC. All inquiries on the following listings should be directed to TenOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Founders Oil and Gas has retained TenOaks Energy Advisors as its exclusive adviser in the sale of its operated Central Basin Platform assets within the Permian Basin in Ector and Crane counties in West Texas.
Penwell Field Overview:
- Prolific conventional asset with significant running room on the Central Basin Platform
- High ownership interests across a focused 8,352 net acre position
- Net PDP Production: 2,000 boe/d (81% oil)
- PDP next 12-month cash flow: $40 million | PDP PV-10: $92 million
- Deep inventory of low-cost, high-return recompletions and vertical new drills with payback periods <1 year
- Upside PV-10: $245 million
- Targets Wolfcamp, Wichita-Albany and Clearfork
Bids are due early August.The transaction effective date is Sept. 1.
A virtual data room is available. For information visit tenoaksenergyadvisors.com or contact Jason B. Webb at TenOaks Energy Advisors at 918-812-3303 or Jason.Webb@tenoaksadvisors.com.
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