The following information is provided by TenOaks Energy Advisors LLC. All inquiries on the following listings should be directed to TenOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Clearly Petroleum LLC retained TenOaks Energy Advisors as the exclusive adviser in connection with the sale of its operated, conventional oil properties across three packages: Permian Basin, North Texas and South Texas/Gulf Coast.
According to TenOaks, Clearly Petroleum will entertain offers for the entire asset as well as individual packages.
Highlights:
- High-quality, conventional oil properties in coveted fields
- Recent net production of 1,516 boe/d (79% oil)
- Projected February 2020 PDP cash flow: $620,000 ($7.44 million annualized)
- 25,667 net acres | 99% HBP | Operational control with high ownership interests
Upside:
- Waterflood expansion and optimization projects
- Inventory of low-cost infill drilling and field expansion opportunities
- Several low-risk projects including recompletions and additional re-stim work
Bids are due at noon CST March 5. A virtual data room will be available starting Feb. 3.
For information visit tenoaksenergyadvisors.com or contact Forrest Salge at TenOaks Energy Advisors at 214-420-2327 or Forrest.Salge@tenoaksadvisors.com.
Recommended Reading
New Permian Math: Vital Energy and 42 Horseshoe Wells
2024-05-10 - Vital Energy anticipates making 42 double-long, horseshoe-shaped wells where straight lines would have made 84 wells. The estimated savings: $140 million.
SM Energy Targets Prolific Dean in New Northern Midland Play
2024-05-09 - KeyBanc Capital Markets reports SM Energy’s wells “measure up well to anything being drilled in the Midland Basin by anybody today.”
Vår Selling Norne Assets to DNO
2024-05-08 - In exchange for Vår’s producing assets in the Norwegian Sea, DNO is paying $51 million and transferring to Vår its 22.6% interest in the Ringhorne East unit in the North Sea.
Crescent Energy: Bigger Uinta Frac Now Making 60% More Boe
2024-05-10 - Crescent Energy also reported companywide growth in D&C speeds, while well costs have declined 10%.
SLB OneSubsea JV to Kickstart North Sea Development
2024-05-07 - SLB OneSubsea, a joint venture including SLB and Subsea7, have been awarded a contract by OKEA that will develop the Bestla Project offshore Norway.