Stonegate Production Co. LLC and TriTech I LLC

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

Stonegate Production Co. LLC and TriTech I LLC have retained Raymond James and Associates to sell certain nonoperated assets in the oil window of the South Texas Eagle Ford shale.

The package includes 50% interest on a 62,600-gross acre lease position in Frio, La Salle and Dimmit counties targeting Pearsall Field. Chesapeake Exploration LLC is operator.

The Lazy A Cotulla 1H well, a 6,000-foot horizontal lateral, had initial production of 980 barrels of oil equivalent per day and cumulative production of 62,000 barrels equivalent in its first three months. The Brownlow 1H, a 7,400-foot horizontal lateral, had initial production of 840 barrels equivalent per day. Production is 82% oil weighted. Chesapeake is currently drilling a third horizontal well, Wilson A 1H, in La Salle County.

Upside includes potential to drill approximately 375 horizontal locations on 120-acre spacing and participate with Chesapeake in future midstream investments.

The data room opens Sept. 22. The bid due date is Oct. 26. Contact Chris Simon, 713-278-5206, chris.simon@raymondjames.com.