Bold Energy II

Transaction Type
Sellers
Marketers
Post Date
Close Date
Estimated Price
MM
Description

Bold Energy II and Lantana Oil & Gas Partners have extended the deadline to place bids on the Tex-Mex Field in Gaines County, Texas to Oct. 18.

The deadline was extended because of an increase in production in two new wells coming online, which has prompted an amended reserve report from W.D. Von Gonten & Co. The lease includes 12,501 gross acres and 4,533 net acres, with 1,126 acres held by production and 3,406 net undeveloped.

Current production on the acreage includes gross production of 450 barrels of oil per day and 1.07 million cubic feet (MMcf) per day of natural gas (300 bbl of oil per day net and 650 Mcf of natural gas per day net). Current net cash flows were around $715,000 per month from 15 operated PDP wells and seven non-operated PDP wells.

The acreage also includes 27 operated PUD locations and 12 non operated PUD locations, with 23 operated probable locations. The effective date of the sale is Sept. 1, 2012. For additional information about the sale, please contact Melinda Faust, managing director of business development at 713-426-9001 or mel@lantanaog.com.