Callon Petroleum Co. (NYSE: CPE) is offering for sale a leasehold position in the Southern Midland Basin's horizontal Wolfcamp Play.
The offering includes operated, HBP leasehold mainly in Crockett County, Texas, and leasehold operated by Apache Corp. (NYSE: APA) in Upton County, Texas.
Lantana Energy Advisors is handling the sale for Callon, based in Natchez, Miss.
Highlights:
- 1,785 gross (1,205 net) total acres;
- Block 5 operated leasehold;
- 1,625 gross (1,114 net) acres in Crockett;
- Opal nonoperated leasehold;
- 160 gross (91 net) acres in Upton;
- Operated by Apache;
- Block 5 operated leasehold;
- Production in May was 156 gross (66 net) barrels of oil equivalent per day (boe/d);
- 116 gross (47 net) barrels per day of oil;
- 242 gross (110 net) thousand cubic feet per day of gas;
- Net average monthly operating cash flow of $45,826 from June 2015 to May;
- Proved developed reserves (with $3 million PV-10 value) are 253 Mboe;
- Proven (1P) reserves (with $18.62 million unrisked PV-10 value) total 6,880 Mboe.
The leasehold has an estimated net monthly operating cash flow of $121,358 at $50 oil and $3 gas, Lantana said.
For information visit lantanaog.com or contact David G. Nini, managing director for Lantana, at 713-426-9001.
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