Riviera-Ensley Energy Advisors has been retained to sell about 5,899 gross producing acres in La Rosa Field, in Refugio County, Texas.
Production from the assets include 279 thousand cubic feet (Mcf) per day of gross natural gas, or 214 Mcf per day net production, in addition to 50 barrels of oil per day of gross and net production.
The seller’s working interest in the field is between 50% and 100%, while net revenue interest fluctuates between 37.5% and 75%. Net monthly cash flows from the properties has averaged about $180,000.
The asset has multiple behind pipe zones and three PUD locations. Three-dimensional proprietary seismic surveys are also available.
The present value of total proved reserves are worth $9.56 million based on a 10% discount rate. Those include $4.76 million in proved, undeveloped; $2.2 million in proved developed, non-producing and about $2.6 million in proved, developed producing reserves.
The data room is open from Oct. 31 through Nov. 28. Bids are due by Nov. 29. The effective date for the transaction is Dec. 1 and projected closing is Dec. 31. For additional information, call Todd A. Larsson, operations manager at Riviera-Ensley Energy Advisors, at 432-686-9400.