WG Energy Holdings Inc.

Transaction Type
Sellers
Marketers
Post Date
Estimated Price
MM
Description

NEW, WG Energy Holdings Inc., Dallas, has retained Energy Spectrum Advisors Inc. to sell certain operated properties in North Texas. The company operates approximately 99% of the properties that are in the Wichita, Wilbarger, Jack,Wise and Hutchinson counties of North Texas. Approximately 29,000 gross held-by-production acres in the Barnett Shale play are also included in for sale. WG's net daily production from the properties averaged 1,800 barrels of oil, 2.4 million cubic feet of gas and 490 barrels of gas liquids per day during July 2004. WG has identified remaining proved and probable development projects. Midland, Texas-based Williamson Petroleum Consultants Inc. has prepared an independent evaluation of the properties. It estimates net remaining total proved reserves to be approximately 9 million barrels of oil, 14 billion cubic feet of gas and 3 million barrels of gas liquids. For more information, contact Charlie Lapeyre, 214-987-6123.