Spice Inc., Paris Oil & Gas Corp.

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

Spice Inc. and Paris Oil & Gas Corp. have retained Macquarie Tristone to sell certain assets in the heart of the Barnett oil combo play in North Texas.

The package includes a maximum 4.063% participating interest in approximately 25,000 gross acres in Montague and Cooke counties. All properties are operated by EOG Resources Inc. and feature 156 production wells, three wells ready to be fracture stimulated, one well used as a frac monitor and 10 wells shut-in for fracture stimulation of offset wells (approximately 12 barrels of oil equivalent per day net pending from these wells).

Net production in June was 196 barrels of oil equivalent per day.

Upside includes approximately 450 remaining 40-acre drilling locations with proven 20-acre downspacing areas.

Bids are due in late September. Contact Jerry Gips, 713-651-4250, jerry.gips@macquarie.com.