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Mississippi Resources LLC retained EnergyNet for the sale of assets across Alabama and Mississippi through a sealed-bid offering closing Feb. 27.
The offering includes operated and nonoperated working interest plus overriding royalty interest (ORRI) and leasehold acreage located in Washington County, Ala., and Covington, Greene, Jefferson Davis, Jones, Lawrence, Marion, Mike and Smith counties, Miss.
- Operations in 30 Wells:
- 100.00% to 42.888542% Working Interest / 86.723842% to 32.798448% Net Revenue Interest (Before Payout)
- An Additional ORRI in Nine Wells
- Eight Producing Wells | Two Saltwater Disposal Wells | Seven Non-Producing Wells | Seven Shut-In Wells | Six Temporarily Abandoned Wells
- Nonoperated Working Interest in 11 Wells:
- 54.24029% to 0.011909% Working Interest / 39.514032% to 0.01042% Net Revenue Interest (Before Payout)
- Four Producing Wells | One Saltwater Disposal Well | Six Shut-In Wells
- An Additional 0.16825% ORRI in the W.D. Knight (Puff) #1 Well
- Select Operators include Cypress Operating, Southern Energy Operating LLC and Texas Petroleum Investment Co.
- ORRI in Three Wells:
- 0.093683% to 0.000755% ORRI
- One Producing Well | Two Shut-In Wells
- Operators include Carl E. Gungoll Exploration Inc. and Cypress Operating
- Six-Month Average Net Income: $136,826 per Month
- Six-Month Average 8/8ths Production: 278 barrels per day of Oil and 4.154 million cubic feet per day of Gas
- 12,140.77 Net Leasehold Acres
Bids are due by 4 p.m. CST Feb. 27. For complete due diligence information visit energynet.com or email Cody Felton, vice president of business development, at Cody.Felton@energynet.com, or Denna Arias, vice president of corporate development, at Denna.Arias@energynet.com.
The plant currently produces up to 1,400 cubic meters of synthetic methane a day, which corresponds to approximately 14,500 kilowatt hours (kWh) of energy. With this amount, about 200 gas-fuelled Golf class cars can be supported to each drive 150 kms a day.
A joint venture between Exxon Mobil, Plains All American and Lotus Midstream has agreed to build a new crude pipeline to connect the Permian Basin in West Texas to the Texas Gulf Coast.
Crude inventories in the Permian Basin fell to 15 million barrels (MMbbl) in the week to Feb. 19, the lowest since October and down from a record 22 MMbbl in November. That glut had doubled in size from 11 MMbbl in June, according to the Genscape data.