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.
Affiliates of Chevron Corp. retained EnergyNet Indigo for the sale of its Van Field asset in northeast Texas through a sealed-bid offering closing July 30.
The offering includes operations, nonoperated working interest, HBP leasehold and mineral fee acreage located in Van Zandt County, Texas. EnergyNet Indigo is exclusive transaction and technical adviser to Chevron affiliates, Chevron U.S.A. Inc. and Union Oil Co. of California, for the sale.
Highlights:
- Operations in Van Field:
- Gross Working Interest about 90% / Net Revenue Interest about 79%
- 110 Producing Wells | Seven Water Injection Wells | 142 Shut-In Wells | 289 Abandoned Wells
- Producing from Austin Chalk, Rodessa and Woodbine Formations
- Nonoperated Working Interest in Van West Field:
- Average Working Interest 30.10% / Average Net Revenue Interest 21.84%
- Three Producing wells | Four Shut-In Wells | Nine Abandoned Wells
- Producing from Buda Georgetown, Paluxy and Rodessa Formations
- Six-Month Average 8/8ths Production: 902 bbl/d of Oil and 538,000 cubic feet per day of Gas
- 12-Month Average Net Income: $263,158 per Month
- 7,437.74 Gross (6,565.96 Net) Acres:
- 5,834.46 Net HBP Leasehold Acres
- 731.50 Net Mineral Fee Acres
- Operator Bond Required
Bids are due by 4 p.m. CT July 30.
The Chevron Van Field package is listed on EnergyNet’s new platform, EnergyNet Indigo, which is tailor-made for higher valued assets. The platform features asset deals valued from $20 million to more than $250 million, according to the A&D advisory firm.
For complete due diligence information visit indigo.energynet.com or email Cody Felton, vice president of business development, at Cody.Felton@energynet.com, or Denna Arias, vice president of corporate development, at Denna.Arias@energynet.com.
Recommended Reading
OTC: E&Ps Improving Operational Safety with Digitization
2024-05-13 - Artificial intelligence and the digitization of the oilfield have allowed for several improvements in keeping operators out of harm’s way, panelists said during the 2024 Offshore Technology Conference.
Exclusive: Cost-effective Benefits of Extracting from Mature Assets
2024-05-13 - Baker Hughes' well abandonment leader Bart Joppe details the importance of extracting resources from mature assets and the company's approach to managing a well, in this Hart Energy Exclusive interview.
TGS Starts Up Multiclient Wind, Metaocean North Sea Campaign
2024-05-07 - TGS is utilizing two laser imaging and ranging buoys to receive detailed wind measurements and metaocean data, with the goal of supporting decision-making in wind lease rounds in the German Bright.
Spate of New Contracts Boosts TechnipFMC's Subsea Profits
2024-04-30 - TechnipFMC's operational profits are growing as the company heightened its focus on “quality” subsea orders, which earned $2.4 billion for the first quarter.
Message in a Bottle: Tracing Production from Zone to Wellhead
2024-04-30 - New tracers by RESMAN Energy Technology enable measurement while a well is still producing.