Marketed: Permian Basin Chapter 11 Sale
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.
Remnant Oil Co. LLC has retained Energy Advisors Group Inc. (EAG) to market its low-decline conventional waterflood projects in Chaves, Eddy and Lea Counties, N.M. The project consists of about 25,000 gross acres broken into six core areas and one noncore assortment.
Area #1 Turkey Tract Sec. 3 Unit
- Eddy County, N.M.
- 100% Operated Working Interest and Up to 75% Net Revenue Interest
- 28 Wells (25 Producers and Three Water Injection Wells)
- Average Gross Production (January 2018-December 2018): 7 bbl/d of Oil, 14,000 cubic feet per day of Gas, 213 bbl/d of Water and 74 bbl/d of Water Injected
- Total Proved PV-10 Value: $21,002 as of March 1, 2019
Area #2 North Square Lake Unit
- Eddy County, N.M.
- 100% Operated Working Interest and 63% Average Net Revenue Interest
- 90 Wells (80 Producers and 10 Water Injection Wells)
- Average Gross Production (January 2018-December 2018): 54 bbl/d of Oil, 582 bbl/d of Water and 647 bbl/d of Water Injected
Area #3 South Red Lake II Unit
- Eddy County, N.M.
- 99% Operated Working Interest and 74.5% Net Revenue Interest
- 18 Wells (10 Producers and 8 Water Injection Wells)
- Average Gross Production (January 2018-December 2018): 3 bbl/d of Oil, 4,000 cubic feet per day of Gas, 24 bbl/d of Water and 174 bbl/d of Water Injected
Area #4 Lusk Seven Rivers Unit
- Lea County, N.M.
- 100% Operated Working Interest and 74.6% Net Revenue Interest
- Six Producing Wells
- Average Gross Production (January 2018-December 2018): 14 bbl/d of Oil, 4 bbl/d of Water and 0 bbl/d of Water Injected
Area #5 Hackberry Waterflood Pilot Project Area
- Eddy and Lea Counties, N.M.
- 100% Operated Working Interest and 74.5% Net Revenue Interest
- 25 Wells (24 Producers and 1 Active Saltwater Disposal)
- Average Gross Production (January 2018-December 2018): 15 bbl/d of Oil, 74 bbl/d of Water and 194 bbl/d of Water Injected
Area #6 Pecos Slope Area
- Chaves County, N.M.
- 50%-100% Operated Working Interest and 75% Lease Net Revenue Interest
- 94 Conventional low-rate dry gas wells
- Average Gross Production (January 2018-December 2018): 1.273 MMcf/d (100% Gas)
The seller is entertaining offers on individual areas highlighted within the package.
Click here to view the online data room or visit energyadvisors.com/deals to view our other 30-plus assignments. For more information on the conventional, South Louisiana operated sale package, contact Eric Thompson, A&D director with EAG, at ethompson@energyadvisors.com or 713-600-0136.