The following information is provided by RedOaks Energy Advisors LLC. All inquiries on the following listings should be directed to RedOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Tamarack Petroleum Co. Inc. retained RedOaks Energy Advisors as its exclusive adviser in connection with the sale of operated positions in the Permian and Illinois basins.
- High-quality, conventional properties in legacy Permian & Illinois Basins fields
- Permian Basin Counties: Lubbock, Hockley, Cochran, Gaines, Texas, and Lea County, N.M.
- Illinois Basin Counties: Warrick and Henderson
- About 4,400 Gross Acres | 100% HBP | 72% Average Working Interest
- Net production: 222 boe/d (95% oil)
- Low-decline production profile by way of mature waterflood assets
- Next 12-month PDP cash flow: $1.8 million
- Strong cash flow supported by low lifting costs
- Upside Potential:
- Low-cost infill drilling
- Waterflood implementation project in Lea County, N.M.
- Multiple waterflood expansion projects available
Bids are due Sept. 2. A data room is available. The transaction is expected to have a Sept. 1 effective date.
Nichols Brothers retained Continental Energy Advisors for the sale of operated assets in New Mexico, Oklahoma and Texas as part of a Chapter 11 bankruptcy.
323 Exploration retained EnergyNet for the sale of more than 12,000 net leasehold acres in West Texas through a sealed-bid offering.
Ventana Partners retained RedOaks Energy Advisors for the sale of nonoperated properties located primarily in the Delaware Basin.