TXON Partners, LLC to Sell North Texas Oil Properties
The package includes ownership in approximately 157 producing wells with a 100% working interest (approximately 77% net revenue interest) on 5,326 gross / net acres (100% HBP). Net production is 315 barrels of oil equivalent (BOE) per day (99% oil) from shallow sands less than 5,000 ft. Recent net operating cash flow is approximately $845,000 per month.
Total Proved reserves are 1.6 million barrels of oil. Probable and Possible reserves add another 3.5 million barrels oil. Upside includes numerous low-cost, low-risk new drills, recompletions, and waterflood opportunities targeting more than 20 stacked pay zones. Future development program is self-funding.
The online data room is open. Bids are due May 22.
Patrick George
Energy Spectrum
2149876100
email us here
EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.