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.
2022-07-21 - A Houston-based company is gearing up for a field trial in the Permian Basin to prove technology that aims to produce hydrogen biologically found in the oil reservoirs.
2022-08-19 - LLOG Exploration Offshore and Audubon Engineering Co.'s collaborative efforts will make LLOG's Salamanca project the first repurposed hub in the U.S. Gulf of Mexico.
2022-07-26 - Schlumberger's Subsea Integration Alliance will provide deepwater E&P company Kosmos Energy with a subsea multiphase boosting system, topside equipment and a 16-mile integrated power and control unbilical.
2022-09-19 - Bonga crude oil stream was due to load 31,000 bbl/d in October, down from 95,000 the previous month, according to a preliminary export program seen by traders.
2022-07-20 - Shell is said to have begun soliciting buyer interest for its stakes in two U.S. Gulf of Mexico oil and gas developments, while ConocoPhillips is considering a full exit from its Gulf of Mexico deepwater portfolio.