The following information is provided by RedOaks Energy Advisors. All inquiries on the following listings should be directed to RedOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
GP Howard LLC has retained RedOaks Energy Advisors as the exclusive advisor in connection with the sale of certain non-operated working interest properties located in Howard County, Texas. The package has been updated to include production from the Sidekick and Side Hustle wells, which began mid-December 2022, as well as six new wells drilled in the Wolfcamp and Spraberry locations.
Key considerations:
- Highly contiguous, non-operated working interest package located in Howard County, Texas
- Operator: Bayswater Resources
- Gross | Net Acres: 6,135 | 1,150
- 11 horizontal PDPs (6 new wells currently being drilled and completed - categorized as PDP given 4/1/23 effective date of transaction)
- High-impact upside potential with 75 remaining drillable locations
- NTM PDP Operating Cash Flow: $8.4 MM
- Initial daily production available from Sidekick and Side Hustle wells
- The Sidekick and Side Hustle have produced over 20 MBO and are still ramping up towards impressive IPs
- Six new wells (Jimmy-Forever Unit) being drilled and completed targeting multiple benches (LS, WCA, WCB, WCD)
- Updated engineering model and reserve report
Offers are due at noon CST on Feb. 8. Upon execution of a confidentiality agreement, RedOaks will provide access to the Virtual Data Room, which opens Jan. 9.
For more information, visit redoaksenergyadvisors.com or contact Austin Cain, analyst at RedOaks Energy Advisors, at austin.cain@tenoaksadvisors.com.
Recommended Reading
Deepwater Roundup 2024: Offshore Australasia, Surrounding Areas
2024-04-09 - Projects in Australia and Asia are progressing in part two of Hart Energy's 2024 Deepwater Roundup. Deepwater projects in Vietnam and Australia look to yield high reserves, while a project offshore Malaysia looks to will be developed by an solar panel powered FPSO.
CNOOC Makes 100 MMton Oilfield Discovery in Bohai Sea
2024-03-18 - CNOOC said the Qinhuangdao 27-3 oilfield has been tested to produce approximately 742 bbl/d of oil from a single well.
CNOOC Finds Light Crude at Kaiping South Field
2024-03-07 - The deepwater Kaiping South Field in the South China Sea holds at least 100 MMtons of oil equivalent.
E&P Highlights: March 15, 2024
2024-03-15 - Here’s a roundup of the latest E&P headlines, including a new discovery and offshore contract awards.
US Raises Crude Production Growth Forecast for 2024
2024-03-12 - U.S. crude oil production will rise by 260,000 bbl/d to 13.19 MMbbl/d this year, the EIA said in its Short-Term Energy Outlook.