Caerus Oil and Gas LLC has retained Raymond James | Albrecht to sell 62,750 gross (42,500 net) acres in Kansas and Colorado.
Caerus’ weighted average operated working interest in the acreage is around 94% and its net revenue interest is about 78%. The sale represents a complete exit of holdings in Kansas and Cheyenne County, Colorado.
The assets, both operated and non-operated, produced about 443 barrels of oil equivalent per day in January 2013, 93% of which came from liquids. The net cash flow in January 2013 was about $780,000.
The assets have a long-life , low-decline production from the Arbuckle, Lansing, Kansas City and Mississippi Lime.
The properties have significant potential for upside development with additional drilling and polymer treatments. In the Mississippi Lime, the assets offer the opportunity for secondary enhanced recovery projects.
The effective date for the transaction is June 1, 2013 and the bids will be due in mid June. For additional information, contact Chris Simon at Raymond James, 713-278-5206 or email@example.com.