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.
The move comes as the November presidential election looms and the Trump administration aims to complete several more deregulatory actions on the spring Unifed Agenda, a list of its policy priorities.
The U.S. oil and gas rig count fell by four to an all-time low of 247 in the week to Aug. 7, according to data from energy services firm Baker Hughes Co.
Five Eagle Ford completions by EOG Resources at its McMullen County, Texas, pad plus results from Calyx Energy horizontal Mississippian wells top this week’s drilling activity highlights from around the world.