Smith Energy

Transaction Type
Sellers
Post Date
Close Date
Estimated Price
MM
Description

Smith Energy has retained Albrecht & Associates Inc. to sell certain properties in West Texas.

The package includes 100% working interest in 89,000 gross acres (62,000 net) including all depths in Terry and Hockley counties prospective for horizontal Wolfcamp and multiple other horizontal targets. The acreage is in the Terry County trough parallel to the Permian shelf edge. Assets include 10 producing wells. An average of 20 months remains on the primary lease terms, with 86% of acreage containing extension options.

Smith Energy has completed nine vertical wells in the Spraberry, Wolfcamp and Cline intervals in the southwestern portion (Wellkat area) of the acreage. The first three were fractured with gel using evenly spaced fracs. The last six used slickwater with selected high-porosity intervals. Initial rates for the gel-fractured wells averaged 20 to 30 barrels per day, while the slickwater wells had initial rates of around 50 to 60 barrels per day.

Multiple horizontal wells are currently being drilled offsetting Smith’s acreage.

The bid due date is Sept. 26. Contact Harrison Williams, (713) 951-9586, hwilliams@albrechtai.com.