On Dec. 1, PLS Energy Advisory Group reported five new property listings.
1. PLS is assisting Limestone Exploration II LLC divest operated assets on Andrews County, Texas, property. There are seven wells, five of which are active, one of which is shut in, and one of which is a saltwater disposal well (SWD).
The wells are in the horizontal San Andres play on about 4,800 gross (1,700 net) acres, vertical Wichita-Albany/Clear Fork proved developed producing (PDP), with significant undeveloped upside.
The gross production is 66 barrels per day (bbl/d) of oil.
The total estimated PV-10 value is about $41 million.
Offers are due Jan. 26, 2017.
2. In Karnes and Dewitt counties, Texas, PLS was retained by Manti LP to sell its nonoperated working interest in the core of the Eagle Ford on 3,444 gross (104 net) acres, fully HBP. There are 51 horizontal producing wells, two nonproducing wells and 20 proved undeveloped locations.
PLS said that the property’s gross production is 5,264 boe/d, 83% oil, and net production is 76 boe/d, 81% oil.
PLS said the assets are operated by Encana Corp., Devon Energy Corp. (NYSE: DVN), Murphy Oil Corp., BHP Billiton and Riley Exploration Group.
3. PLS also said that it was retained by Alvand Resources LLC to market nonoperated assets in Texas, Oklahoma, North Dakota, New Mexico, Alabama, Mississippi, Louisiana and Wyoming.
There are more than 280 wells currently producing 3,880 bbl/d of oil and 29.3 MMcf/d as of January 2016.
Offers are due Dec. 23.
4. An undisclosed seller retained PLS to market its West Texas Barnett position in Pecos and Terrell counties.
PLS said the seller seeks a joint venture partner to earn a 50% working interest in a farm-out drill on 42,225 gross (35,145 net) acres with access to Woodford and Barnett stacked pay.
Geochemical analysis was performed, gathering more than 3,000 core samples from 45 wells targeting the Vista Grande Woodford and Barnett.
PLS said the low-cost liquid-rich play, located in a wet gas/volatile oil reservoir, has 1.4 Bboe of recoverable estimated resources on the current leasehold.
Facilities and a gathering system are already in place.
5. PLS also said it was retained by Kerogen Exploration LLC to market its Southern Florida Basin position in the Sunniland Reef Trend. Kerogen seeks a JV partner to develop the 23,000 net acres with more than 80% net revenue interest.
Kerogen has reworked this underexplored, oil-prone basin and understands the seismic, paleographic reconstructions, detailed petrophysical core and cutting analyses.
Kerogen identified seven substantial prospects with about170 MMbbl oil EUR potential remaining in the Upper Sunniland Formation, and 72 potential wells with a 1.1 MMbbl oil EUR—per well-- provide a good drill-to-earn opportunity, PLS said.
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