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.
Maverick Natural Resources LLC retained EnergyNet for the sale of East Texas assets in Cherokee County through an auction closing June 19.
The offer includes operations in producing wells plus leasehold acreage within the White Oak Creek Field.
- 100.00% Working Interest / 80.11686% to 75.18411% Net Revenue Interest in Nine Wells:
- Seven Producing Wells | One Shut-In Well | One Temporarily Abandoned Well
- Six-Month Average 8/8ths Production: 296,000 cubic feet per day of Gas
- Three-Month Average Net Income: $1,587 per Month
- 2,447.859 Net Leasehold Acres
Bids are due by 2:55 p.m. CDT June 19. For complete due diligence information energynet.com or email Cody Felton, vice president of business development, at Cody.Felton@energynet.com, or Denna Arias, director of transaction management, at Denna.Arias@energynet.com.
The spread between Brent and WTI has narrowed, making US oil less attractive.
Hedge funds cut their bullish positions in petroleum last week for the second week running as anxiety about the slowing global economy and oil consumption trumped optimism over production restraint by OPEC and its allies.
The oil market will rally by $5 to $10 per barrel when it opens on Monday and may spike to as high as $100 per barrel if Saudi Arabia fails to quickly resume oil supply lost after attacks over the weekend, traders and analysts said.