Bold Energy II LLC

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

Bold Energy II LLC has retained Lantana Oil & Gas Partners to sell certain West Texas assets.

The package includes operated and nonoperated assets in 9,011.7 gross mineral acres (4,623.1 net) in Gaines county. The assets feature 12 proved developed producing wells (seven operated) with 32 operated proved undeveloped locations (one nonoperated). The operated wells have an average 82.2% working interest (63.2% net revenue interest). Upside includes multiple stacked pay zones, total depths of less than 7,800 feet, and horizontal potential and secondary recovery potential.

Gross production for June was 15,994 barrels of oil (5,815 barrels net) and 28.7 million cubic feet of gas (16.7 million net), or 20,782 barrels of oil equivalent gross (8,604 BOE net). Average daily June production was 531 barrels of oil per day (194 net) and 958,000 cubic feet of gas (548,000 net), or 591 BOE per day gross (285 net). Net proved reserves are 2.34 million BOE as per the W.D. Von Gonten reserve report effective Nov. 1, 2011.

The bid due date is Nov. 3. The effective date is Nov. 1. Contact David Nini, 713-426-9001, David@lantanaog.com.