Chevron Corp. (NYSE: CVX) is offering for sale an East Texas package through a sealed bid sales process.

The package includes 139 operated wells in Gregg and Rusk counties, Texas. EnergyNet has been retained to handle the sale.

The wells have a six-month average net income of $403,635 per month and a six-month average 8/8ths production of 262 barrels per day of oil and 3,118 thousand cubic feet per day.

Operators include Chevron U.S.A. Inc., Chevron Midcontinent LP, BP America Production Co., Cabot Oil & Gas Corp. (NYSE: COG) and Quantum Resources Management LLC.

Property Highlights:

  • 22 operated leases producing oil;
    • 73 producing oil wells;
    • 27 nonproducing oil wells;
    • 77.5-100% gross working interest/67.8125-87.5028% net revenue interest;
    • Two royalty interests (producing minerals);
    • 2,859.96 gross (2,764.86 net) acres;
  • Eight operated leases/units producing gas;
    • Eight producing gas wells;
    • 36.5854- 100% gross working interest/28.0934-87.5% net revenue interest;
    • 1,400.01 gross (1,065.82 net) acres
  • Four nonoperated leases/units producing gas
    • 31 producing gas wells;
    • 1.4-25% gross working interest/1.24-21.875% net revenue interest;
    • Various overriding royalty interests;
    • 100% gross working interest in multiple nonproducing depths;
    • 1,585.16 gross (87.92 net) acres;
  • 14 nonproducing leases;
    • 25-100% gross working interest/21.875-87.625832% net revenue interest;
    • 15% overriding royalty interest;
    • 0.0447% nonproducing royalty interest/0.125832% royalty interest;
    • 1,612.33 gross (1,488.02 net) acres;
  • Hampton Fee Simple Absolute; and
    • 168.77 gross/net acres in the George Hampton Survey, A-267, in Gregg County.
  • East Texas Salt Water Disposal Company
    • 162 shares of capital stock.

Offers are due at 4 p.m. CST on Dec. 4. For information contact Chris Atherton, EnergyNet business development, at 832-654-6612.