The following information is provided by Meagher Energy Advisors. All inquiries on the following listings should be directed to Meagher. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Public Gas Partners (PGP) retained Meagher Energy Advisors for the sale of a Permian Basin opportunity with nonoperated leasehold, production and minerals.
The offer includes assets located in Eddy and Lea County, N.M., and Ector, Crane, Loving, Pecos, Winkler and Ward counties, Texas.
- Opportunity to acquire assets in highly coveted areas creates an attractive target for unconventional oil and gas development
- Steady production and cash flow
- 247 active nonoperated wells
- Additional upside in non-producing minerals
- Non-Producing acreage in certain areas currently leasing for $1,000-$6,000 per net acre
- Net cash flow forecasted for December 2018: $92,880
- Forecasted production in December 2018
- Gross: 14,836 barrels per day of Oil and 16,205 cubic feet per day of Gas
- Net: 67 barrels per day of Oil and 231,000 cubic feet per day of Gas
- Average interest: 9.99% Working Interest, 8.18% Net Revenue Interest
- Up to 50% Working Interest in active wells
- Notable operators include Apache, EOG Resources, Concho Resources and Cimarex Energy
- Six wells currently drilling on PGP acreage
- Significant HBP leasehold position
- About 5,800 net acres in New Mexico and Texas with majority located in the Delaware Basin
- 527 net mineral acres in highly sought-after counties such as Lea County, N.M.
- Detailed lease schedule is available in data package
Bids are due March 7. The sale is expected to close April 18 with an effective date of Dec. 1.
For information visit meagheradvisors.com or contact Jacque Semple, project manager with Meagher, at email@example.com or 918-481-5900 ext. 221.
Success in those projects would result in its reserve base reaching 3.7 billion barrels over the next seven years and help Woodside expand production by 6% a year over the next decade, the company said.
Output at the largest formation, the Permian Basin of Texas and New Mexico, is expected to rise 57,000 bbl/d to 4.73 MMbbl/d.
Plans are for the well, which was drilled into two untested fault blocks east of the Cashima Field, to be completed by the end of November, the company said.