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.
- 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
- 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.
Crude oil inventories in the U.S. rose by 15.2 million barrels in the week to Dec. 4 to 503.2 million barrels, the largest build in crude inventories since April.
Another drawdown in U.S. crude stockpiles in official weekly data to be released on May 20 could support oil prices more, said John Kilduff, a partner at Again Capital Management in New York.
Crude stocks at the Cushing, Okla., delivery hub for U.S. crude futures rose by 1.8 million barrels to 47.8 million barrels, their highest since December 2017, the EIA data revealed.