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Urban Oil and Gas Group LLC (Urban) is offering for sale a 29 well package with operated WI in Franklin, Iberville and West Baton Rouge Parishes, Louisiana. Lot# 104110 includes an LTM net production of 150 bbl/d, an LTM net operating income of approximately $265,020/month and an LTM lifting cost of approximately $16/bbl. More information about the offering can be found below. Urban has retained EnergyNet as its exclusive advisor relating to the transaction.
Asset Highlights:
Opportunity to acquire operated oil producing properties, leasehold, and related assets located within Central and South LA providing an immediate attractive, de-risked, operated, asset base generating $2.0 MM of NTM PDP cash flow.
- Package consists of 29 horizontal and vertical wells producing primarily from the Baskinton, Bayou Cholpe, Erwinville, and SE Maringouin fields
- Average Ownership of ~78% WI & ~60% NRI
- LTM net production of 150 bb/d
- LTM net operating income of ~$265,020/month
- LTM lifting cost of ~$16/bbl
- Strong PDP PV10 of $10.1 MM
- PDP net reserves of 681,000 bbl
- Stable production profile with wells exhibiting average terminal decline of 6%
- 3 PUD cases yielding $3.1 MM PV10
- Ample workover and up-hole recompletion opportunities
This is a sealed bid property on EnergyNet.com, Lot# 104110. Bids are due August 3, 2023 at 4:00 pm CDT. For complete due diligence information on this property, please visit http://www.energynet.com or email Zachary Muroff, Managing Director, at Zachary.Muroff@energynet.com or Krystin Gilbert, Buyer
Relations, at Krystin.Gilbert@energynet.com.
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