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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.
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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