HighMount Exploration & Production LLC has retained Lantana Oil & Gas Partners to sell certain South Texas Eagle Ford assets.
The package includes 5,217 gross mineral acres (4,728 net) in Fayette County situated in the oil and condensate window of the Eagle Ford trend. The assets also feature additional Austin chalk potential. Average net revenue interest is 78.5%, with lease net revenues ranging from 75% to 81.25%. All leasehold is in the primary term.
The leases were executed from April through July 2010, 75% of which are five-year paid up leases with expiration in 2015, and 25% are three-year leases with two-year extension options with primary expiration in 2013.
The assets include no depth restrictions, allowing Austin chalk, Eagle Ford, Buda and Georgetown development opportunities. The assets feature no preferential rights.
The bid due date is Feb. 9. The effective date is March 1. Contact Melinda Faust, 713-426-9001, firstname.lastname@example.org.