CH&P Energy Inc.

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

CH&P Energy has retained Macquarie Tristone to help sell off its interests in the Clay and Hardin fields in Texas and the Grand Lake Field in Louisiana.

CH&P’s position in the acreage consists of 32,137 gross acres (19,380 net), 87% of which is held by production. The acreage has a total of 68 wells, 46 of which are active. An independent assessment of the total proved reserves in the three fields is 10.7 million barrels of oil equivalent (BOE). The expected present value of that reserve base is $157.3 million using a 10% discount rate.

The average working interest in the Clay field is 76.1% and the average net revenue interest is 56.8%. In the Hardin Field, the average working interest is 33% and the average net revenue interest is 25%. In the Grand Lake Field, CH&P has 100% working interest and a 75% net revenue interest.

The Clay field has more than 16,000 acres held by production and is located on trend with expanding Eagle Ford and East Texas cretaceous activity.

CH&P has stated that it prefers to sell all three properties in one transaction, but it will consider separate offers for each area. CH&P is a privately held upstream company based in Houston, Texas whose operations are focused in the upper Texas Gulf coast.

The data room is scheduled to open Oct. 8 through Oct. 26 in Macquarie Tristone’s Houston office. Final offers are due Nov. 6. Contact David Hopkins, senior vice president at Macquarie Tristone, for additional information at 713-651-4220.