oil & gas assets

producing propertyGS E&R - GOM NONOP PROPERTIES

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


GS E&R - GOM NONOP PROPERTIES
GULF OF MEXICO PROPERTIES
52-Total Wells. 18-Active (Producing).
OFFSHORE LOUISIANA, TEXAS,--
--& ALABAMA
12 Blocks. ~8,975 Net Acres.
Liquids Rich Gas Production.
Producing From Various Intervals.
~33% NonOp WI; ~27% NRI
Gross Prod: 1,157 BOED (76% Oil)
Net Prod: 294 BOED (80% Oil)
Feb 2018 Net Cash Flow: $142,566/Mn
Net PDP Reserves: 395 MBO & 1.1 BCF
Net PDP PV10: ~$8,100,000
Solid & Experienced Operators
Several Other Notable Operators.
FIELDWOOD ASSETS SOLD!
PP 5342DV
Sale Points
Updates
05/31/18: Northstar Eng. Report (Net SAM) Jan 2018 added to 05. Engineering
05/31/18: Samchully LOS through March 2018 added to 03. Accounting - Samchully
05/31/18: Quicklook & CA updated in 01. Summary & Introductory Materials folder
03/22/18: Samchully LOS (Jan-Dec 2017) added in the 03. Accounting - Samchully
02/21/18: Samchully LOS (Apr-15 thru Mar-17 added in the 03. Accounting - Samchully

Previous updates can be seen at the bottom of VDR.

Developments
08/25/16: Net production increased from March to May 2016 by approximately 8% to 717 BOED (52% Oil).
08/22/16: Net Cash Flow for May 2016: $376,649

Summary
PLS has been retained by GS E&R America, Inc. and Samchully Energy & Environment Corp. to market certain non-operated working interests within 18 blocks (~11,388 net acres) offshore Louisiana, Alabama, and Texas. The main fields for the asset include:

   • Eugene Island 208
   • Vermilion South 379
   • Mobile 870
   • South Timbalier 156
   • South Pelto 13

The sale delivers a total of ninety-four (94) wells containing thirty-six (36) active producers with sizeable behind pipe potential.

All properties produce a gross total of 1,693 BOPD & 15,755 MCFD and a net total of 376 BOPD & 2,048 MCFD. Average net cash flow for the past 3 months (March-May) is ~$240,000/Mn for the thirty-six (36) active wells (excluding non-recurring expenses).

After scheduled maintenance on three wells in the EI38, EI57 and EI58 fields, gas sales increased ~72% in March 2016 resulting in a net cash flow of $143,266 for the month. The most recent reported net cash flow as of May 2016 was $376,649 showing significant upside in commodity price recovery.

Ankor Energy is the primary operator for the asset and has a positive track record in the gulf with over forty-seven (47) wells drilled since 2008. Other notable operators include Arena Offshore, Fieldwood Energy, and W&T Offshore.

Reserves
Estimated net proved reserves of 673 Mbbl & 2,467 MMcf

  • Net PDP Reserves: 580 MBOE
  • Net PDNP Reserves: 423 MBOE
  • Net PUD Reserves: 81 MBOE

    GS E&R reports 4 recompletions in the last year and 1 workover and estimates minimal CAPEX until 2019 for workovers and recompletions.

    Additionally, the Seller estimates that 84% of the P&A liability will be over 5 years out with 40% occurring in 2030 or after.

    Sales Process
    This process will be run as a negotiated sale. Any questions regarding this sale can be directed to Miranda Kennedy, 713-600-0156 (mkennedy@plsenergyadvisors.com).

    Previous Updates
    07/18/17: 2017 Engineering Report added to the Engineering folder.
    05/16/17: Samchully Financials added to the Accounting (Samchully) folder.
    05/15/17: GS E&R Financial Statements added to the Accounting (GS E&R) folder.
    04/20/17: LOS updated in the Accounting (Samchully) folder.
    01/03/17: As of December 2016, GS E&R sold their interest in wells operated by Fieldwood Energy.
    01/03/17: Quicklook updated in the Summary & Introductory Material folder.
    11/02/16: LOS updated in the Accounting folders for GS E&R and Samchully.
    09/29/16: LOS updated in the Accounting (Samchully) folder.
    09/27/16: CapEx Schedule updated in the Accounting (GS E&R) folder (CapEx & Bond Details zip).
    09/27/16: LOS updated in the Accounting (GS E&R) folder.
    08/25/16: Teaser updated in the Summary & Introductory Materials folder.
    08/25/16: Quicklook updated in the Summary & Introductory Materials folder.
    08/22/16: Samchully LOS updated in the Accounting - Samchully folder.
    08/22/16: GS E&R LOS updated in the Accounting - GS E&R folder.
    08/22/16: LOS tab in Quicklook updated in the Summary & Introductory Materials folder.


    TO LEARN MORE:
    PLS Energy Advisors
    Ms. Miranda Kennedy
    Associate
    One Riverway Ste 2500
    Houston, TX 77056
    USA
    Phone: 713-650-1212 and Direct: 713-600-0156
    Email: mkennedy@plsenergyadvisors.com
  • Questions Regarding This Asset? Email Miranda Kennedy or call PLS at 972-348-5536

    Public Data (No C.A. Required)
    folder01. Summary & Introductory Materials
    Confidential Data (C.A. Required)
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    Questions Regarding This Asset?
    Email: Miranda Kennedy
    Call: 972-348-5536



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