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.

Petroleum International Inc. retained Meagher Energy Advisors to sell two packages of assets across several states.

The first package is comprised of nonoperated working interest in Kansas, Louisiana, New Mexico, Oklahoma and Texas. The other package includes royalty interest across Kansas, New Mexico, Oklahoma, Texas and Utah.

Bids for both packages are due Nov. 29. The sale is expected to close Dec. 27 with an effective date of Aug. 1.

For information visit meagheradvisors.com or contact Jacque Semple, project manager for Meagher, at jsemple@meagheradvisors.com or 918-481-5900 ext. 221.

Package #1 Nonoperated Working Interest

Asset Highlights:

  • 109 wells with an average working interest of 5.7%
  • Seven units in Oklahoma and Texas, including the Hawkins Field Unit and Northeast Verden Unit, with an average working interest of 1.01%
  • Interests across five active states
  • New well proposals in Grady County
  • Notable operators include: Apache, Newfield, Marathon, XTO and FourPoint Energy
  • Copies of assignments/proposals are provided for review

Production & Cash Flow

  • Gross production: 8,837 barrels per day (bbl/d) of oil and 145.686 million cubic feet per day (MMcf/d) expected for August 2018
  • Net production of 26 bb/d of oil, 312 gallons per day of NGL and 124,000 cubic feet per day expected for August 2018
  • Expected net operating cash flow $41,580 for August 2018
  • Steady cash flow

Package #2 Royalty Interest

Asset Highlights:

  • 2,763.98 net mineral acres across five states
  • More than 1,800 non-producing net mineral acres with future opportunity for lease bonuses and royalties
    • More than 85 net mineral acres in Arkoma Basin
      • New well being drilled by Canyon Creek on this acreage
      • Lease bonuses in this area are between $300 and $1,000
    • 371 net mineral acres in Creek County, Okla., which has seen increased activity over the last year
  • Petroleum International has received multiple leasing offers for non-producing properties
  • Three new wells in Pittsburg County, Okla.

Production & Cash Flow

  • Gross production: 2,060 bbl/d of oil and 24.247 MMcf/d expected for August 2018
  • Net production: 5.2 bbl/d of oil, 645 gallons per day of NGL and 115,000 cubic feet per day expected for August 2018
  • Expected net operating cash flow $26,200 for August 2018
  • Steady cash flow
Onshore