Transaction Type
Post Date
Estimated Price

Burks Oil & Gas Properties Inc. has been retained to sell nonoperated working interests in East Texas. The package includes approximately 18.71% average working interest (13.73% net revenue interest) in 3,680 gross acres. The assets include 89 producing wells. Three new wells were recently drilled and completed. Net production for June was 1.45 million cubic feet of gas, 10 barrels of oil and eight barrels of gas liquids per day. Net proved reserves are estimated at 6.1 billion cubic feet of gas and 85,000 barrels of oil and gas liquids. Net cash flow was $340,000 during April. The drilling program is ongoing, targeting long-lived gas reserves in the Cotton Valley formation with additional potential in the shallower formations providing behind-pipe and commingling opportunities. Contact Dick Klauzinski, 281-580- 4590.