oil & gas assets

producing propertyGARZA CO., TX SALE PACKAGE

Producing Property For Sale Through PLS Marketing & Transaction Arm
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GARZA CO., TX SALE PACKAGE
GARZA CO., TX SALE PACKAGE
28-Active Wells. 4-PDNP.
GARZA FIELD
CONVENTIONAL SAN ANDRES
Current Ongoing Waterflood Program.
Significant PDNP and CO2 PUD Upside.
100% OPERATED WI; 88% NRI
Gross Production: 92 BOPD (100% Oil)
Net Production: 81 BOPD
Avg Net Cash Flow: ~$34,800/Month
PACKAGE SET TO CLOSE JAN 2018
PP 9415DV
Sale Points
Updates:
12/19/17: Proposal Guidelines updated in the Summary & Introductory Material folder.

Summary:
PLS Energy Advisors Group has been retained by Lime Rock Resources to market their Garza field asset located in the northern Midland basin in Garza County, TX.

The package consists of 32 operated San Andres conventional wells (28-producing, 4-inactive) including 11 water injectors, 6 of which are candidates for CO2 injection conversion at an initial cost of ~$1,130,000 and an additional $2,020/Mn in Opex (initial cost includes hook up to nearby CO2 delivery pipeline).

All wells have a 100% WI and 87.5% NRI. Current gross production as of June 1, 2017, is 92 BOPD (100% oil) and net production is 81 BOPD. The asset generates ~$34,800 in monthly cash flow net to Lime Rock’s interest. Lime Rock’s internal engineering report shows total proved reserves of 4.29 MMBO with a PDP PV10 of ~$5,398,000 without CO2 injection. After implementation of CO2 injection, the total proved reserves are expected to increase by 600 MBO with additional PUD PV10 of ~$1,775,000 for a grand total of 1,061 Total Proved Reserves MBO with a value of $7,697,500.

The nearest surrounding offset operator started CO2 injection in 2006, resulting in a 211 BOPD (32%) increase in peak oil rate within 3 years. This asset will provide a buyer with a flexible, low decline oil property with proven upside potential at low cost exposure.


TO LEARN MORE
PLS Energy Advisors Group
Mr. Ross Benoche
Director - Sell-Side Services
One Riverway Ste 2500
Houston, TX 77056
Phone: 713-650-1212
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

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



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