The following information is provided by RedOaks Energy Advisors LLC. All inquiries on the following listings should be directed to RedOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Blackbeard Operating LLC retained RedOaks Energy Advisors as its exclusive adviser in connection with the sale of its majority operated position in the Western Anadarko Basin of Oklahoma.
- High-quality, conventional properties in legacy fields
- Counties: Roger Mills, Beckham, Custer, Ellis, Cimarron, Beaver and Washita
- 52,964 Net Acres | 100% HBP | 90% Operated
- Net Production: 6.600 MMcfe/d
- Mature, low-decline production profile
- Key formations: Marmaton, Skinner/Hogshooter Wash, Red Fork and Tonkawa/Cleveland
- Upside Potential:
- Significant inventory of recompletion candidates
- Vertical and horizontal development opportunities
Bids are due by Aug. 20. A virtual data room is open. The transaction is expected to have an Aug. 1 effective date.
The supermajors are focused on specific developments and improving efficiency in the Permian Basin as market conditions recover.
Panelists agreed there are, however, exceptions. And costs could run from thousands to millions of dollars depending on services needed to restart production.
Experts say electrofacies could prove beneficial for oil companies considering vertically unbounded wells in the Permian Basin.