The following information is provided by Energy Advisors Group Inc. (EAG), formerly PLS Divestment Services. All inquiries on the following listings should be directed to EAG. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Energy Advisors Group has been retained by Prime Systems to market its development program in Starr County, Texas.
Prime Systems is seeking a capital raise for a drill-ready horizontal well, which will be utilizing Baker Hughes logging while drilling (LWD) directional drilling and openhole gravel pack completion technique to produce from proven primary reserves.
The seller is looking for an operator or nonoperated partners to make a $2.8 million investment to drill the horizontal well and expect a payout in less than six months.
- Ready-to-drill horizontal well through entire field (3,000 ft lateral)
- 11 ft average net pay; 1,800 ft measured depth reservoir
- ESP for Accelerated Production in Years one and two
- Baker Hughes will provide LWD directional drilling and openhole gravel pack completion
- Baker Hughes technique will increase volumes 30%
- Third party engineering available (modeled by prosper)
- 1P: 260,000 barrels of oil; 2P: 560,000 barrels of oil
- Expected IP: 940 barrels per day (bbl/d) of oil
- Drill and completion costs: $2.8 million
About the Field:
- Proven productive stratigraphic trap
- Historical shallow oil field
- O’Hern and Frio sands
- Starting in 1949, the field was underdeveloped with nine wells (40-acre spacings) recovering only 9.8%
- OOIP: 2.769 million barrels of oil (Infield Reserves: 560,000 barrels of oil)
- A similar historical field within three miles exists with documented successful primary and sec. recovery
- South Texas Horizontal Development
- Drill-Ready 5,400 ft Horizontal Well. Nine Pay Zones
- Historical Shallow Oil Field
- Baker Hughes Completion Technique
- Open Hole Gravel Pack
- O’Hern and Frio Sands.
- 3,000 ft Lateral. Reservoir: 1,800 ft Measured Depth.
- 100% Operated or Nonoperated Working Interest
- Expected IP: 940 bbl/d of Oil
- All Leases in Place.
- Generator Expects Less than Six-Month Payout.
- Proven (Primary) Reserves: 260,000 barrels of oil
- Drill and Completion Costs: $2.8 million
For more information, contact Blake Dornak, A&D director for EAG, at firstname.lastname@example.org or 713-600-0169.
2023-10-03 - Can Haynesville, Permian and Eagle Ford E&Ps meet skyrocketing gas demand to serve a host of new LNG projects on the Gulf Coast? These executives have concerns.
2023-10-02 - This agreement will help Saint-Gobain offset their CO2 emissions in North America.
2023-10-02 - Eastern Energy’s acquisition of Conquest Completion Services gives Eastern access to favorable positions in the Permian and Eagle Ford.
2023-10-02 - During the shale boom, analysts and investors used to reward E&Ps for more production. Now, shareholders prefer more cash returns in their pockets—and experts don’t see that changing anytime soon.
2023-10-02 - OneSubsea, a joint venture between SLB, Aker Solutions and Subsea7, looks to improve subsea asset performance and efficiency while decreasing emissions.