EOGResources Inc. has retained Meagher Energy Advisors to sell interest in two assets targeting Cherokee sands in the Oklahoma Panhandle.
The package includes 83% working interest (73% net royalty interest) in War Party Waterflood Unit 1 and 50% working interest (44% net royalty interest) in War Party Waterflood Unit 2, both in Texas County. The two units are on contiguous acres with the first covering 1,760 gross acres and the second on 2,900 gross acres. The two units feature a total 20 producing wells, seven injectors, three water supply and 28 inactive.
Current production is 215 barrels of oil, 16,000 cubic feet of gas and 9,500 barrels of water per day. Current injection is 11,900 barrels of water per day. Average net cash flow is $130,145 per month.
Upside includes potential from injection profile modification (mobility control). The assets also feature an onsite storage building with SCADA computer, furniture and other items.
The bid due date is March 9. The effective date is April 1. Contact Jacque Semple, 918-481-5900 ext. 221, email@example.com.