Peak Permian LLC

Transaction Type
Sellers
Marketers
Post Date
Close Date
Estimated Price
MM
Description

Peak Permain LLC has contracted Meagher Energy Advisors to sell its interests in a multi-pay acreage package in the Permian Basin.

The primary targets are oil-prone Permian Wolfcamp and Clearfork formations in Crockett County, Texas. The targeted zone is found at shallow depths, the Wolfcamp “B,” between 4,000 feet and 4,500 feet.

The acreage is located in a structural updip and geographically south of the highly publicized horizontal Wolfcamp activity in northern Crocket and Irion counties.

Two wells have been drilled and completed, one of which is horizontal. There is historical Wolfcamp production in the immediate area. In addition, prospective formations with established production nearby include the Pennsylvanian Strawn and Canyon.

The acreage totals 16,419 gross acres (12,162 Peak net acres) with three leases. All leases expire in 2014, and have a two-year extension clause. The leases allow for a 75% net revenue interest.

The bid date is March 6 and the effective date is March 1. For questions, contact Nick Asher at Meagher Energy Advisors, (303)-721-6354 ext. 260.