oil & gas assets

producing propertyEastern Shelf Operated WI (Eagle Production)

Producing Property For Sale Through PLS Marketing & Transaction Arm
All Standard Disclaimers Apply & Seller Rights Retained


Eastern Shelf Operated WI (Eagle Production)
WEST CENTRAL TEXAS SMALL PKG
29-Wells. ~1,560-Acres (Majority HBP).
RUNNELS & SCHLEICHER COUNTIES
CONVENTIONAL PERMIAN BASIN
Morris Sand, Gardner, Canyon, Capps,
-- Clearfork & Wolfcamp Production
4-8 Vertical PUD Locations Identified.
5-25% OPERATED WI; ~3-18.75% NRI
Gross Production: 55 BOPD & 109 MCFD
Net Production:10 BOPD & 17 MCFD
12-Mn Net Cash Flow: $35,630/Mn
Net PDP Rsrvs: 45.9 MBO & 52.1 MMCF
Net PDP PV10: $757,620
Infrastructure In Place.
SELLER REVIEWING OFFERS
PP 3170DV
Sale Points
SELLER REVIEWING OFFERS

Updates
03/29/18: Well Data files by Lease zip files added to 05. Well Data
03/29/18: Cross Section zip added to 04. Geology

Summary
PLS Energy Advisors Group has been retained by Eagle Production, Inc. to market their Conventional Eastern Shelf Waterflood properties. This sale includes 29 vertical -wells spread across Runnels (23-wells) & Schleicher (6-wells) Counties, Texas. Currently the gross production for the properties is 55 BOPD & 109 MCFD (10 BPOPD & 17 MCFD net) from the Morris, Gardner, Canyon, Capps, Clear Fork & Wolfcamp reservoirs.

Operations are included with an average 25% working interest & 19.43% net revenue in Runnels County (~760 Acres) and 5.0% working interest & 3.75% net revenue interest in Schleicher County (~800 Acres). An internal engineering run estimates the remaining PDP Net reserves to be 45.9 MBO & 52.1 MMCF with a Net PDP PV10 of $757,620. There are There are four to eight proved undeveloped locations on the Ferrell lease in Runnels County with a Net PUD reserves of 8.9 MBO & 22.3 MMCF generating a Net PUD PV10 of $88,830. The Eastern Shelf multipay trends in this area are prospective from 10+ potential pays within a 1,200’ interval above 4,500’ (shallow).

History of the Morris Sand
The primary objective is the Morris Sandstone at 3,900’ (shallow). The Morris sandstone reservoir is solution gas drive with formation water less than 10%. The Hatchell Field was discovered in June of 1955 by Caroline Hunt Oil Co. while drilling the Zappe #1. The well perforated the top 8’ of the zone and was stimulated with 500 gallons of acid. 40° API oil flowed at 238 BOPD unchoked with no water. Recovered reserves of ~35.0 MBO were reported plus gas. The well was never fracked.

A second well, the Lange #1, was drilled to the south by Rowan Oil Co, and perforated 10’ of Morris Sandstone and was stimulated with 4,500 gallons of acid. Oil flowed at 278 BOPD unchoked with no water. Recovered reserves for the Lange #1 were ~37.4 MBO. This well was also not fracked.

Several wells were drilled through the Morris Sand in the initial area and had good shows of oil and gas but were P&A’d without completion attempts. They were the Humble / Lange #1 in section 166 (EPI / Holle #1 analogue) and the Wes - Tex Drilling / Zappe #1 in section 169 (EPI / Ferrell #3 analogue). Both wells have been offset by EPI and have pay in the Morris Sand, Capps Lime and Palo Pinto Lime.

The third producing well was drilled January 1983, by Tri Country Oil Co. named the Zappe #1. This well sat 110’ to the east offsetting the Hunt well as a twin. The Zappe #1 perforated 10’ of Morris Sandstone and was acidized then fracked with 7,500 gallons of gel and 4,000 Lbs of sand. The well IP’d at 71 BOPD + 18 BWPD. Reserves were ~22.5 MBO. The three wells had cumulative production of approximately 94.9 MBO + gas.

REMAINING INTEREST MAY BE AVAILABLE



TO LEARN MORE
PLS Energy Advisors Group
Mr. Ross Benoche
Director - Sell-Side Services
10850 Richmond Ave Ste 300
Houston, TX 77042
USA
Direct: 713-600-0154 & Cell: 832-338-2810
Email: rbenoche@plsenergyadvisors.com
Questions Regarding This Asset? Email Ross Benoche or call PLS at 713-600-0154

Public Data (No C.A. Required)
folder01. Summary & Introductory Materials
folder02. Accounting
folder03. Engineering
folder04. Geology
folder05. Well Data

Questions Regarding This Asset?
Email: Ross Benoche
Call: 713-600-0154



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