The following information is provided by EnergyNet. All inquiries on the following listings should be directed to EnergyNet. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
C. W. Bolin Properties Ltd. retained EnergyNet for the sale of oil and gas properties located across New Mexico, Oklahoma and Texas through an auction closing May 29.
The offer comprises interest in over 227 properties plus leasehold in various counties. The sale includes nonoperated working interest, overriding royalty interest (ORRI) and mineral/royalty interest.
- Nonoperated Working Interest in 103 Properties:
- 29.66733% to 0.258338% Working Interest / 24.474996% to 0.211918% Net Revenue Interest
- An Additional 0.3937% to 0.0248% ORRI in 12 Properties
- An Additional 0.001303% Royalty Interest in Two Properties
- 95 Producing Properties | One Saltwater Disposal | Seven Non-Producing Properties
- ORRI in 117 Properties:
- 7.50% to 0.013426% ORRI
- An Additional 0.007816% Royalty Interest in Two Properties
- 60 Producing Properties | 55 Non-Producing Properties | Two Temporarily Abandoned Properties
- Royalty Interest in Seven Producing Properties:
- 2.723644% to 0.000027% Royalty Interest
- Six-Month Average 8/8ths Production: 43.960 million cubic feet per day of Gas and 852 barrels per day of Oil
- Six-Month Average Net Income: $44,011 per Month
- 528.07 Net Leasehold Acres
- 483.08 Net HBP Leasehold Acres
- 44.99 Net Non-Producing Leasehold Acres
- 11.40 Net Producing Mineral Acres
- Select Operators include Crown Energy Co., Epic Energy LLC, Hilcorp Energy Co. Inc., Marathon Oil Corp. and Territory Resources LLC
Bids are due by 2:25 p.m. CDT May 29. For complete due diligence information energynet.com or email Michael Baker, vice president of business development, at Michael.Baker@energynet.com, or Denna Arias, director of transaction management, at Denna.Arias@energynet.com.
Libya’s largest oil field, El Sharara, has been shut down since July 19 due to a suspected valve closure and an investigation has been launched, the National Oil Corp. said July 20.
This year Colorado lawmakers passed Senate Bill 19-181, tightening regulations on the state's oil and gas industry.
There was no immediate confirmation or comment from state oil firm NOC which operates with foreign partners the 315,000 barrels-per-day (bbl/d) field deep in Libya’s southern desert.