BVX Operating Inc. has retained Riviera-Ensley Energy Advisors to sell certain oil and gas properties in the Permian Basin. The properties are located in Andrews and Ector counties, Texas.
The properties include operated working interest in two leases (18 producers) producing 238 barrels of oil per day and 537,000 cubic feet per day of natural gas. Net operating cash flow averaged $563,000 per month during the three months ending July 2012. A total of 607.65 acres are held by production and included in this sale.
BVX holds 100% working interest in the properties and net revenue interest between 75% and 80%. Additional upside exists in 51 vertical PUD locations. There is also successful horizontal drilling in the immediate area.
The data room opened Oct.19. Bids are due Nov. 15, with a closing on Dec. 20.