Marketed: Kern County, California Oil Field
The following information is provided by Energy Advisors Group Inc. (EAG), formerly PLS Divestment Services. All inquiries on the following listings should be directed to EAG. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Energy Advisors Group Inc. (EAG) has been retained by an independent producer seeking development capital for its operated oil field in the San Joaquin Basin in Kern County, Calif.
As of Fall 2019, the asset is producing about 103 barrels per day of (bbl/d) oil (gross) and 40 bbl/d of oil (net) of 15° API oil. The property has 20 active producers and no idle wells. The asset has over 10 years of production history, and the operator has drilled four discovery wells in the last decade. Lease operating expenses average about $15.50 per barrel for the last six months ended Aug. 31. This is a unique opportunity to participate in a low-cost producer's profitable field, with over 10 years of continuous production, no idle wells, and material upside available in the form of PUD drilling and steamflooding.
Click here to view the online data room or visit energyadvisors.com/deals to view our other 30-plus assignments. For more information, contact David Kessler, A&D director with EAG, at dkessler@energyadvisors.com or 713-600-0123.