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.
McElvain Energy Fund 2011 LLC retained EnergyNet for the sale of a Delaware Basin package through a sealed-bid offering closing Nov. 7.
The offer includes nonoperated working interest and overriding royalty interest (ORRI) in a 14 well package located within the Permian Basin in Lea County, N.M.
Highlights:
- Nonoperated Working Interest in 14 Producing Wells:
- 10.152055% to 1.3464% Working Interest / 8.375446% to 1.1304% Net Revenue Interest (Before Payout)
- Currently Additional ORRI in Three Wells (Before Payout)
- Seven Wells Receive Additional ORRI After Reversion Hurdle Achieved
- 12-Month Average Net Income: $35,587 per Month
- Six-Month Average 8/8ths Production: 692 barrels per day of Oil and 1.038 million cubic feet per day of Gas
- Operators include Kaiser-Francis Oil Co. and McElvain Energy Inc.
- Leasehold Covers 2,187.56 Gross Acres
- 231.1604 Net Acres in the Second Bone Spring Formation
- 208.0414 HBP Net Acres and 23.1190 Farm-out Net Acres
- 307.0052 Net Acres in the First and Third Bone Spring Formation
- 283.8862 HBP Net Acres and 23.1190 Farm-out Net Acres
- 357.5934 Net Acres in the Wolfcamp Formation
- 294.8444 HBP Net Acres and 62.7490 Farm-out Net Acres
- 231.1604 Net Acres in the Second Bone Spring Formation
The seller is an affiliate of McElvain Energy, a Denver-based E&P company active in the San Juan, Permian, Denver-Julesburg and Williston basins plus the Central Kansas Uplift.
Bids are due by 4 p.m. CDT Nov. 7. For complete due diligence information visit energynet.com or email Ryan P. Dobbs, vice president of business development, at Ryan.Dobbs@energynet.com, or Denna Arias, director of transaction management, at Denna.Arias@energynet.com.
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