Cypress E&P Corp.

Transaction Type
Basin
Gulf Coast
Field
Cypress Eagle, Brushy Creek
Post Date
Close Date
Estimated Price
MM
Description

Cypress E&P Corp. has retained Scotia Waterous (USA) Inc. to sell a substantial portion of its assets in the upper Texas Gulf Coast.

The package includes an average 90% working interest in 11 producing wells covering more than 10,000 contiguous acres in Cypress Eagle Field in Wharton County and Brushy Creek Field in Jackson County. Production is approximately 13.6 million cubic feet of gas equivalent per day with stable monthly net operating income of approximately $2.8 million. Proved reserves are approximately 54 billion cubic feet of gas equivalent (72% proved developed producing).

Upside includes and exploration portfolio of five prospects targeting the Middle and Lower Wilcox with an estimated potential of approximately 500 billion cubic feet of gas.

The data room opens Oct. 22. The bid due date is mid-November. Contact Adrian Goodisman, 713-437-5050, adrian_goodisman@scotiawaterous.com.