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ERG Resources Offers Historic California Oil Field

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June 12, 2014

ERG Resources LLC is divesting its operated Casmalia Field position in Santa Barbara County, Calif., according to PLS Inc. , which was retained to market the sale.The lease contains 572 net acres that are all HBP and include all depth rights. The property has 100% working interest and an above-average net revenue interest ranging from 86% to 99%, depending on the leases. Cash flow for the last 12 months averaged about $113,700 per month, with March 2014 reporting about $135,000. These wells have maintained long stable production with a low ...


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