Redemption Oil & Gas LLC

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

Redemption Oil & Gas LLC has retained Scotia Waterous (USA) Inc. to sell Eagle Ford shale assets in the Maverick Basin of South Texas.

The package includes 100% working interest in 8,651 net acres in west-central Dimmit County and 50% working interest in 9,048 net acres in northern Maverick County, both in the Eagle Ford oil window.

The Dimmitt land is also prospective for dry gas in the Pearsall shale with rights on 7,371 net acres. One Eagle Ford and one Pearsall well have been drilled and completed on the position to date with a second Eagle Ford well to be spud in April. Current net production is 170 BOE per day. Offset operators include Anadarko, Chesapeake, Newfield and SM Energy.

The Maverick holdings are also prospective for horizontal development of the Georgetown oil play. Several Georgetown wells have been drilled on the position to date. Recent wells IP'd in excess of 250 BOE per day. Current net production is 150 BOE per day. Newfield Exploration is operator.

The data room opens April 4. The bid due date is May 5. Contact David Cecil, 713-437-5063, david_cecil@scotiawaterous.com.