Marketed: West Texas Leasehold In Pecos And Terrell Counties

Transaction Type
Sellers
Marketers
Basin
West Texas
Announce Date
Post Date
Close Date
Estimated Price
MM
Description

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

323 Exploration LLC retained EnergyNet for the sale of more than 12,000 net leasehold acres in West Texas through a sealed-bid offering.

The offer comprises both non-producing fee and state leasehold located in Pecos and Terrell counties, Texas. The assets are offset by over 100 producing wells including active horizontal Woodford, Strawn and Devonian producers.

Highlights:

  • 8,461.40 Gross / 8,282.48 Net Non-Producing Fee Leasehold Acres
    • 100% of Oil and Gas Leases (Delivering 75.00% Net Revenue Interest)
    • Three-Year Term | Expiring 07-17-2020
    • Two-Year Option to extend
  • 3,969.36 Gross / 3,969.36 Net Non-Producing State Leasehold Acres
    • 100% of Oil and Gas Leases (Delivering 75.00% Net Revenue Interest)
    • Five-Year Term | Expiring 03-23-2020
    • Two-Year Option to Extend
  • 113 Active Offset Producers
    • Two Horizontal Woodford | Eight Horizontal Strawn | Three Horizontal Devonian
  • Area Operators include Brahman Resource Partners LLC, Chevron U.S.A. Inc., Endeavor Energy Resources LP, White Rock Oil & Gas LLC and XTO Energy Inc.

Bids are due at 4 p.m. CST April 10. For complete due diligence information energynet.com or email Cody Felton, vice president of business development, at Cody.Felton@energynet.com, or Denna Arias, director of transaction management, at Denna.Arias@energynet.com.