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.
Wagner Oil Co. retained RedOaks Energy Advisors as the exclusive adviser in connection with the sale of the Charco Package comprised of certain South Texas and East Texas properties.
- Conventional, operated gas fields across prolific regions of South Texas and East Texas
- About 85,000 net acres
- Net production: 1,309 boe/d (23% liquids)
- PDP PV-10: $12.8 million
- Next 12-month Cash Flow: $2.9 million
The transaction is expected to have a Sept. 1 effective date.
Bids are due Oct. 14. A virtual data room is available.
Leasing hot spots, improved drilling metrics and more reveal some silver lining in the cloud hanging over Midcontinent producers.
The deal would create the largest pure-play northern Midland Basin E&P with a 73,000-net-acre position and 12,000 boe/d of production that is expected to more than double through 2020.
Repsol will still hold a 51% stake in the block after the deal.