Duer Wagner III

Transaction Type
Sellers
Marketers
Post Date
Estimated Price
MM
Description

Duer Wagner III has hired Lantana Oil & Gas Partners to sell a package of non-operated working interests in properties in multiple states.

The package includes assets in Texas, Oklahoma, New Mexico, Louisiana and North Dakota and have nearly 2.3 million barrels of oil equivalent in proven reserves. The present value of those reserves when discounted at 10% is nearly $41 million.

The net production from the assets is around 144 barrels of oil per day, 1.43 million cubic feet (MMcf) per day of natural gas and 81 barrels of liquids per day.

The various working interests in 12 fields encompassing 17,000 gross (2,000) net acres are operated by Chesapeake Energy Corp. (NYSE: CHK), Devon Energy Corp. (NYSE: DVN), Denbury Resources Inc. (NYSE: DNR) and others.

The net operating cash flow from the assets was around $487,000 per month. The package has a low average operating cost of around $9.70 per bbl. For additional information, contact Andy Taurins at Lantana Oil & Gas Partners at 713-426-9001 or andy@lantanaog.com