The following information is provided by Detring Energy Advisors LLC. All inquiries on the following listings should be directed to Detring. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Camino Natural Resources LLC retained Detring Energy Advisors for the sale of oil and gas producing properties, leasehold and related assets located in Grady County within the Southern Oklahoma Hoxbar Oil Trend.
The assets comprise a contiguous acreage position with a highly economic drill-ready development program and active nonoperated program targeting the Marchand member of the Hoxbar Group with proven upside in the Medrano member, according to Detring.
Highlights:
- About 2,940 Net Acres (89% HBP)
- Large and contiguous position
- 61% operated with balance nonop under premier Hoxbar operator, Unit Petroleum Co.
- Development plan focuses on the prolific Marchand member of the Hoxbar group with upside in the Medrano member (About 95 and 75 horizontal locations, respectively)
- Highly economic results achieved by Camino and others
- Roughly 40%-60% rate-of-return type curve by applying modern completions techniques to conventional reservoirs
- Marchand IP-30 and EUR of about 1,000 barrels of oil equivalent per day (boe/d) and 1 million barrels of oil equivalent (boe), respectively, for 7,500 ft laterals at roughly 65%-75% oil
- About 600 boe/d net production (65% liquids) with roughly 4.5 million next 12-months cash flow
- About 19 million proved developed producing PV-10 value; 35 million boe 3P net reserves
- Significant resource potential in both the Marchand & Medrano members of the Hoxbar Group
- Camino acreage encompasses an area with roughly 3,000 ft of gross section, more than 550 ft net sand, and seven stacked horizontal targets
- Camino has successfully drilled wells in the Medrano and Marchand (upper, middle and lower) units
3. boe shown as two stream; 4. Horizontal rigs as of May 23, 2019.
Process Summary:
- Virtual data room opens June 12
- Bids due July 17
For information visit detring.com or contact Melinda Faust at mel@detring.com or 713-595-1004.
Recommended Reading
US Shale Basins Boast $54/bbl Average Breakeven Price
2023-03-24 - The average full-cycle breakeven for U.S. shale basins is approximately $54/bbl, while the average for public E&Ps and private operators is $53/bbl and $58/bbl, respectively, Wells Fargo said, citing Rystad Energy data.
Oil is Sticking Around, Rystad and WoodMac Say
2023-03-24 - Rystad Energy and Wood Mackenzie executives said during an AAPG-Energy Opportunities event in Mexico City that oil will still be needed through 2050 and that the energy transition will take time.
Oil Slides as US Holds Off Refilling Strategic Reserve
2023-03-24 - Strong demand expectations from China capped decreases, with Goldman Sachs saying commodities demand was surging in China, the world's biggest oil importer.
Asia Seeking Reliable Gas from US, Australia, Qatar and Beyond
2023-03-22 - Asia continues to seek affordable, reliable, sustainable energy to assist world emissions targets and “be part of the solution, not part of the problem,” Asia Natural Gas & Energy Association (ANGEA) CEO Paul Everingham told Hart Energy during CERAWeek by S&P Global.
OPEC+ Likely to Stick to its Guns Despite Price Slump, Delegates Say
2023-03-22 - OPEC+ plans on sticking to its deal on output cuts of 2 MMbbl/d until the end of the year, even after the banking crisis following the collapse of two U.S. lenders and Switzerland's UBS buying Credit Suisse.