Corlena Oil Co. LLC is offering operated Granite Wash assets in the Texas Panhandle through a sale handled by EnergyNet.
The sale is comprised of 100% working interest, before payout, with operations in eight producing wells plus its associated HBP leasehold acreage in Clay CSL Survey, A-50, Roberts County, Texas.
Highlights:
- 100% gross working interest/75.2% net revenue interest (before payout) in eight producing wells;
- 87.5% working interest/66.575% net revenue interest (after payout) in the two of the wells, the Mills Ranch 2B #1H and 5A #1H;
- Six-month average 8/8ths production 88 barrels per day of oil and 1.179 million cubic feet per day of gas;
- Six-month average net income of $145,552 per month; and
- 540 net HBP leasehold acres.
Upside potential includes a 5,000-acre offset and additional zones leasing opportunity with a common mineral owner, EnergyNet said.
Bids are due by 4 p.m. CT May 3. For information visit energynet.com or contact Ethan House, vice president of business development with EnergyNet, at 405-255-5444.
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