Texoz E&P I & II Inc.

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Description

Texoz E&P I & II Inc. has retained Albrecht & Associates Inc. to sell certain assets in Texas.

The package includes an average 74% working interest (59% net revenue interest) in 15 producing wells, four proved developed nonproducing opportunities and 10 proved undeveloped locations in McMullen and Jackson counties, Texas. The leasehold is comprised of approximately 1,892 gross acres (1,500 net) and Texoz is selling only the Olmos rights in the McMullen County properties.

Texoz operates all of the Olmos producing wells and locations and the Goff #1 through a contract operator. The three Yegua producing wells and four proved developed nonproducing opportunities are operated by Bright & Co. Ltd. through the same contract operator. Eleven of the producing wells and all of the proved undeveloped locations target the Olmos sand as a part of A.W.P. Field in McMullen County. The remaining four producing wells are currently completed in the Yegua and Frio sands in Jackson County.

Production is 190 barrels of oil per day, 1.9 million cubic feet of gas per day and 170 barrels of gas liquids per day. Proved reserves are 640,000 barrels of oil, 8.3 billion cubic feet of gas and 1.1 million barrels of gas liquids.

The bid due date is Nov. 16. The effective date is Dec. 1. Contact Harrison Williams, 713-951-9586, hwilliams@albrechtai.com.