Chuza Oil Co. has retained EnergyNet Inc. to sell its interest in a 28 operated well package in San Juan County, N.M., through a sealed bid offering.
On sale is the company’s interest in the northeast Hogback Field and BLM Lease No. 58917, vertical Gallup production with horizontal development potential. Chuza has 100% working interest in both assets. It is offering a 74.03% net revenue interest in the NE HoGback Field and 82.5% net revenue interest in the BLM lease.
The combined 28 producing vertical wells produce more than 30 barrels of oil per day. The average six-month net cash flow from the acreage is about $28,480 per month. Due diligence information is available at www.energynet.com.
Bids are due by May 23 at 4 p.m. CDT. The effective date of the sale is June 1. For additional information, contact Ryan P. Dobbs, business development manager, at EnergyNet.com Inc., at 720-459-2072 or Ryan.Dobbs@energynet.com.