IPR Energy Partners LP

Transaction Type
Sellers
Marketers
Post Date
Estimated Price
MM
Description

IPR Energy Partners LP has retained PLS Inc. to offer properties in north-central Texas.

The package includes 100% working interest (83% net revenue interest) in 23 leases on 3,055 net acres of held-by-production leasehold in six counties, principally Wilbarger and Wichita counties. Lease burdens range from 11% to 25% and averages 17% in aggregate. Half the well count is near Vernon, Texas, and four leases are near Wichita Falls.

Average net sales are expected to reach 98 barrels of oil equivalent per day (84 barrels on producing reserves). Proved reserves are 1.3 million barrels equivalent (567,000 proved developed producing. Net cash flow is $110,000 to $120,000 per month.

Upside includes 12 identifed proved undeveloped locations and low-cost workover opportunities are expected increase production by more than 20 net barrels equivalent per day.

Contact Daniel Rojo, 713-650-1212, drojo@plsx.com.