Lario Oil & Gas Co.

Transaction Type
Sellers
Marketers
Basin
Central Kansas Uplift
Post Date
Close Date
Estimated Price
MM
Description

Lario Oil & Gas Co. has retained Macquarie Tristone to sell certain legacy Kansas assets in the Central Kansas Uplift.

The package includes 100% working interest (86.3% net revenue interest) in 42 operated producing wells and 25% working interest (19.6% NRI) in one nonoperated well in Trego, Rooks and Ellis counties. Operations are multi-pay targeting primarily the Lansing and Arbuckle formations. The assets include 2,480 gross acres (1,938 net) held by production.

Net production by May is expected to be more than 600 barrels of oil per day. Current monthly net cash flow is $863,000 and is expected to increase to $1.6 million by May 1.

Upside includes more than 60 low-risk infill locations high-graded with 3-D seismic, and nine re-drills of previously abandoned wells.

The bid due date is May 15. Contact Jerry Gips, 713-651-4250, jerry.gips@macquarie.com.