GULF COAST OPERATED ASSETS
17-PDPs. 2,000-Net Acres (99% HBP).
MAGNET WITHERS FIELD
WHARTON COUNTY, TEXAS
Targets The Upper Frio Formation
17-PDNP / Behind-Pipe Candidates
19-Undeveloped Locations
100% OPERATED WI (81% NRI)
Net Production: 627 BOPD
Proj NTM PDP Cash Flow: $11,000,000
PDP PV-10: $50,000,000
Upside In Frio Hz & Vertical Development
Margin Enhancement Potential From
SWD/Lift Optimization & LOE Reductions
BIDS ARE DUE APRIL 20, 2022
PP 6025DV
| Onshore |
Land Base |
| Conventional |
Play Type |
TENOAKS ENERGY ADVISORS - WHITE OAK ENERGY LLC
Deal Summary
White Oak Energy LLC has retained TenOaks Energy Advisors to assist in the sale of certain operated Magnet Withers field assets in South Texas.
Highlights:
-- Located in Wharton Co., TX;
-- Covers 2,000 net contiguous acres (99% HBP);
-- Holds 100% WI (81% NRI);
-- Targets the Upper Frio formation;
-- Includes 17 PDP wells, 17 PDNP/behind-pipe candidates, and 19 undeveloped locations;
-- PDP PV-10: $50 million;
-- Projected net Production (Apr-2022): 627 Bbl/d (10% decline);
-- Projected NTM PDP cash flow (Apr-2022 to Mar-2023): $11 million;
-- Well economics from latest development program (4 wells) includes capex of $3.4 million, PV-10 of $11.4 million, ROI of 8.3x, and IRR of 100%;
-- Upside includes attractive behind-pipe wedge and continued exploitation of Frio via vertical or horizontal development program;
-- Margin enhancement potential from SWD/lift optimization and LOE reductions.
To learn more contact:
Mr. Jason Webb
Phone: 214-420-2322
Email: jason.webb@tenoaksadvisors.com
