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.
IStick Capital Management LLC and R2Q Operating LLC are offering for sale certain operated properties located in North Texas and East Texas. The company has retained TenOaks Energy Advisors as its exclusive adviser in connection with the transaction.
- Opportunity to acquire a prolific North Texas operated position located in Wichita, Archer and Clay counties
- Properties also include a legacy East Texas position in Gregg, Upshur and Rusk counties
- ~49,700 net acres (100% HBP) – 93% North Texas / 7% East Texas
- Shallow decline assets: 900 net boe/d | 98% Oil | ~5% first year PDP decline
- Substantial next 12-month PDP operating cash flow: $19.3 million
- Upside quantified and fully documented by Netherland, Sewell & Associates
- 139 behind-pipe/workover opportunities / 496 vertical infill PUD locations (all with IRRs >100%)
Bids are due at noon CST on Aug. 24. The transaction effective date is Sept. 1.
2023-02-08 - Brent crude rose 80 cents, or 1%, to $84.49/bbl, while U.S. WTI crude climbed 93 cents, or 1.2%, to $78.07.
2023-02-08 - Turkey was struck with a series of deadly earthquakes on Feb. 6, leading to a temporary suspension of BP Azerbaijan loading operations.
2023-02-08 - Higher wind output typically reduces demand for gas from power plants.
2023-02-07 - Meant to limit greenhouse gas emissions, carbon permits' values have been driven by energy prices surge and EU reforms.
2023-02-07 - The plant is not expected to return to full power until at least March and is still waiting for permission from federal regulators to start loading LNG on ships to free up storage tank space.