Burk Royalty Co. Ltd. has retained Energy Spectrum Advisors Inc. to sell certain West Texas Permian Basin oil properties.
The package includes 100% working interest (80% net revenue interest) in 83 producing wells on 2,587 gross/net contiguous acres in Garza County, Texas. Recent net production is 253 barrels of oil per day with an average monthly cash flow of approximately $436,000. Proved reserves are 1.7 million barrel of oil (100% proved developed producing).
The entire field is under waterflood and upside includes the field being a CO2 candidate with multiple direct offset analogies. CO2 upside also includes an additional 7.6 million barrels of net oil reserves.
The data room opens Oct. 25. The bid due date is Nov. 17. Contact Wood Brookshire, 214-987-6123, email@example.com.