Morexco Inc.

Transaction Type
Sellers
Basin
Permian
Field
Brushy Canyon, Avalon
Post Date
Close Date
Estimated Price
MM
Description

Morexco Inc. and its partners have retained Albrecht & Associates Inc. to sell certain assets in the Avalon shale/Bone Spring play in New Mexico.

The package includes 100% working interest in 3,132 gross and net acres and interests in five producing and one shut-in well in Eddy County, with 1,132 gross and net acres held by production. The assets feature at least three years of primary term remaining on all acreage and the properties target the Bone Spring, Avalon and Delaware formations.

Three of the producing wells are in completed in the Brushy Canyon and two are in the Avalon. The shut-in well produced 2 billion cubic feet out of the Morrow formation.

July production is projected to be 9 gross barrels of oil (7 net) and 125,000 gross cubic feet (95,000 net).

The bid due date is June 22. The effective date is July 1. Contact Harrison Williams, 713-951‑9586, hwilliams@albrechtai.com.