Assets in the Permian and San Juan basins are on the market, according to EnergyNet, which has been retained to handle the transactions.
In one package, Enduring Resources II LLC and Elephant Oil & Gas LLC are selling their South Sterling Leasehold Project in the Permian Basin. The package includes 100% gross working interest with operations in one producing horizontal Cline well.
In another package, Elephant is offering its Permian Basin/Cline Shale Atoll Prospect in Sterling and Mitchell counties, Texas. The acreage has Cline and Ellenburger potential.
The last package includes leasehold acres in the San Juan Basin located in Rio Arriba and San Juan counties, N.M., for sale by T.H. McElvain Oil & Gas LLLP.
Enduring, Elephant—South Sterling Leasehold Project
Enduring Resources and Elephant Oil & Gas are selling their South Sterling Leasehold Project in the Permian Basin.
The project, located in Sterling County, Texas, is comprised of 19,540 net (20,005 gross) leasehold acres with one and two year extension options available.
The package includes 100% gross working interest and 75% net revenue interest with operations in one producing horizontal Cline well, Reed 14 #1001H.
The Reed 14 #1001H well has a six-month average 8/8ths production of about 95 barrels per day (bbl/d) of oil and 337 thousand cubic feet per day (Mcf/d) and an 8-month average net income of about $204,936 per month.
This auction opens for bidding at 2:45 p.m. CST on Nov. 20 and closes at 2:45 p.m. CST on Dec. 3. For information contact Ryan P. Dobbs, EnergyNet business development manager, at 720-459-2072.
Elephant—Cline Shale Atoll Prospect
Elephant Oil & Gas is selling its Permian Basin/Cline Shale Atoll Prospect in Sterling and Mitchell counties, Texas.
The package includes 23,963 net (24,185 gross) acres leasehold acres with 100% gross working interest and 75% net revenue interest. The acreage has Cline and Ellenburger potential and is comprised of large contiguous leases that can be extended by continuous development.
Leases are in primary term through May 2015-December 2017 with an option to extend two additional years.
The auction opens for bidding at 2:35 p.m. CST on Nov. 20 and closes at 2:35 p.m. on Dec. 3. For information contact EnergyNet’s Dobbs at 720-459-2072.
T.H. McElvain—San Juan Basin
T.H. McElvain Oil & Gas is selling its 1,155.01 net (4,803.59 gross) leasehold acres located in Rio Arriba and San Juan counties, N.M.
The Rio Arriba County acreage includes 670.8975 net (2,683.59 gross) nonproducing leasehold acres and 354.1125 net (1,600 gross) HBP leasehold acres.
The San Juan County acreage includes 130 net (520 gross) nonproducing leasehold acres.
The auction opens for bidding at 3:30 p.m. CST on Dec. 3 and closes at 3:30 p.m. CST on Dec. 10. For information contact EnergyNet’s Dobbs at 720-459-2072.
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