Colt O&G LLC

Transaction Type
Sellers
Marketers
Post Date
Estimated Price
MM
Description

Colt O&G LLC and Elephant Oil & Gas LLC have retained Energy Spectrum Advisors Inc. to sell certain operated properties located in the Cline and Wolfberry plays of Glasscock County, Texas.

This nine-section block consists of 5,720 gross / 4,662 net contiguous acres (15% held by production) with an average 82% working interest (61% net revenue interest). Development plan includes 35 Horizontal Cline locations with additional opportunities in the Lower Wolfcamp, Strawn, and Atoka. The package includes 5 Wolfberry wells with a net production rate of 158 BOE/d. Net cash flow for June was $179,110.

The properties are immediately offset by the top Cline operators: Apache, Laredo, Devon, Range, and Concho. These operators have publicly announced EUR potential from 340–784 MBOE for wells drilled in this area.

The data room is open August 20. The bid due date is September 18th. Contact BJ Brandenberger, 214-987-6145, bj.brandenberger@energyspectrum.com