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.
Rockcliff Energy LLC retained EnergyNet Indigo as the exclusive adviser to assist with the sale of producing conventional oil and gas properties in the East Texas Basin through a sealed bid offering closing Aug. 31. The bid due date was originally set for Aug. 10, but has since been extended.
The offering includes a large contiguous acreage position covering about 123,000 net effective acres within the Douglass and Red Land fields in Nacogdoches and Angelina counties, Texas, which according to EnergyNet provides multiple development opportunities across the Travis Peak, Pettit and James Lime formations. The firm added that the majority operated, long-life asset has stable decline of roughly 6% and includes numerous development opportunities to increase production and cash flow.
Highlights:
Land
- Acreage position with potential development targets, ~100% HBP
- 73,060 Net Acres
- Travis Peak, Pettit, James Lime
- 50,028 Net Acres
- Cotton Valley
Asset Overview
- Majority Operated (approximately 95%), Nonoperated and Royalty Interest/Overriding Royalty Interest Wells
- Average Working Interest 96% / Net Revenue Interest 78% in Operated wells
- Net Production
- 12 MMcf/d of Gas
- 31 bbl/d of Oil
- Attractive workover and recompletion opportunities
- Potential infill future development within: Travis Peak, Pettit and James Lime
- Field wide gas gathering pipeline and compression system in place
- Houston Ship Channel pricing index
- Forward pricing at a premium to Henry Hub
Bids are due for Lot ID 82727 at 4 p.m. CDT on Aug. 31. Effective date of sale is Sept. 1, according to EnergyNet.
A virtual data room is available. 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.
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