MIDLAND BASIN ASSET SALE
29-Total Wells. Covers 3,880-Nret Acres.
GLASSCOCK & HOWARD COS., TX
26-Producers, 2-SWDs & 1-Injector
Fusselman, Spraberry, & Wolfcamp Fmn
Holds 3-PDNP Upside Opportunities And
8-Liquids Rich Drilling Locations.
OPERATED WI FOR SALE
Net PDP Production: 385 BOED
Net PDP Cash Flow: $4,500,000
Net PDP Reserves: 736 MBOE
Net Total Reserves: 2.248 MMBOE
BIDS ARE DUE FEBRUARY 7, 2022
PP 6209DV
| Onshore |
Land Base |
| Unconventional |
Play Type |
REDOAKS ENERGY ADVISORS LLC - LAKE CRYSTAL ENERGY LLC
Deal Summary
Lake Crystal Energy LLC has retained RedOaks Energy Advisors LLC to assist in the sale of certain operated Midland Basin assets in Texas.
Highlights:
-- Located in Glasscock Co., and Howard Co., TX;
-- Covers 3,880 net acres;
-- Includes 26 active producers (15 horizontal and 11 vertical), 2 SWD wells and 1 injector well;
-- Targets the Fusselman, Spraberry, and Wolfcamp A,B, C, and D formations;
-- Net PDP Reserves (effective 1-Jan-2023): 736 MBOE (~78% oil, PDP PV-10: $12.6 million);
-- Net total Reserves (effective 1-Jan-2023): 2.248 MMBOE (~33% PDP, ~73% oil, PV-10: $21.1 million);
-- Net PDP Production (Jan-2023 forecasted): 385 BOE/d (75% oil);
-- Net PDP cash flow (2023 forecasted): $4.5 million;
-- Holds 3 PDNP upside opportunities in existing vertical wellbores with additional untapped pay in the Wolfcamp;
-- Also includes 8 liquids-rich upside drilling locations modeled featuring the Wolfcamp D horizontal target and Wolfcamp A-B-C-D vertical zones.
To learn more contact:
Mr. David Carter
Phone: 214-536-8616
Email: david.carter@redoaksadvisors.com
