Marketed: Crawford Hughes Giddings Field Asset

Transaction Type
Sellers
Marketers
Basin
Eagle Ford Shale; Austin Chalk
Field
Giddings Field
Post Date
Close Date
Room Opening Date
Estimated Price
MM
Description

The following information is provided by Detring Energy Advisors LLC. All inquiries on the following listings should be directed to Detring. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

Crawford Hughes Operating Co. has retained Detring Energy Advisors to market for sale certain oil and gas producing, leasehold and related assets located in the Austin Chalk and Eagle Ford fairways of the established Giddings Field.

The assets offer an attractive opportunity to acquire a position on-trend with recent prolific well results by top regional operators, according to Detring.

Asset Highlights:

  • 43,700 Net Acres – 100% HBP
    • High average working interest (90%) and nets (75%) across majority of position
    • Acreage contained entirely within the Austin Chalk fairway with activity pressing northeast and southwest toward the assets
    • Contiguous and operated position ideal for extended laterals and pad development
    • Roughly 18,000 net acres with Eagle Ford rights (50/50 joint development agreement with Apache Corp.)
  • World-Class Austin Chalk Well Results
    • Following success in the B interval, operators are now targeting the Austin Chalk A zone with multiple results more than 1,500 barrels of oil equivalent per day (boe/d) or more than 300 boe/d per Mft
      • Multiple offset well results and permits by Magnolia Oil & Gas (EnerVest), Chesapeake Energy (WildHorse Resource Development), GeoSouthern Energy, EOG Resources and others
    • Superb well control and log data provide a strong geologic understanding of regional development and well results
      • Thermally mature, high total organic carbon (TOC)
      • Localized Eagle Ford upside
    • Giddings Field horizontal spuds and permits up about 15 to 20 times over a two-year period, including prolific results in both the Austin Chalk and Eagle Ford
  • About 2.8 million cubic feet equivalent per day Net Production – 6% Annual Decline
    • Low-decline production base (26% liquids)
    • $11 million Proved Developing Producing (PDP) PV-10 value
    • $2.3 million next 12 months operating cash flow (PDP only)

Process Overview:

  • Evaluation materials available via the Virtual Data Room on Feb. 25
  • Proposals due March 27

For information visit detring.com or contact Melinda Faust at mel@detring.com or 713-595-1004.