HKN Inc

Transaction Type
Sellers
Post Date
Estimated Price
0MM
Description

NEW, HKN Inc. has retained Lantana Oil & Gas Partners to sell interests offshore Louisiana. The package includes 90% operated working interest (71.75% net revenue interest) in 2,760 gross acres in Main Pass Block 35, Plaquemines Parish, eight miles offshore in water depths of eight to 10 feet. The assets include 25 proved developed producing wells, seven linked platforms, 75 oil completions, six injection wells, one freshwater well and an eight-mile sales line. Current gross production is 460 barrels of oil per day (330 net). Total net proved reserves are 2.052 million barrels of oil equivalent (1.455 barrels proved developed producing). Average monthly cash flow is $942,000. Behind-pipe reserves are 213,000 barrels and shut-in reserves are 216,000 barrels. The bid due date is Aug. 19. The closing date is Sept. 25. The effective date is July 1. Contact Andy Taurins, 713-426- 9001.