Calyx Offering Mississippi Lime Leasehold Package

Calyx Energy LLC has retained RBC Richardson Barr to sell certain Midcontinent assets in Oklahoma.

The package includes approximately 67% average working interest in producing units in an overall leasehold position of approximately 31,000 net acres (approximately 15% held by production) in the southeastern portion of the Mississippian play, primarily in Payne County. Production targets the Mississippian and Woodford formations. Calyx’s Woodford well, the first in Payne County, came online averaging 89 barrels of oil per day during the first five days of cleanup and will be placed on pump during the week of Aug. 1.

Gross production is 1,237 barrels of oil equivalent per day (675 barrels net, 75% oil) from 12 operated horizontal producers (11 Mississippian and one Woodford). Total net reserves are 33 million barrels of oil equivalent (approximately 69% oil, 4% developed). Operating net cash flow is projected to be $1.2 million in September.

Upside includes more than 550 drilling opportunities identified in the reserve report. Calyx anticipates operations control on approximately 75% of position (more than 80 planned 640-acre operated units) with all leasehold rights as to all depths owned to be conveyed. All current producing areas have saltwater-disposal systems with additional available capacity.

The bid due date is Aug. 31.Contact Craig Lande, 713-585-3335,
craig.lande@rbccm.com.