Text Size:
A | A

ERG Resources Offers Historic California Oil Field

Text Size: A | A
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 ...

Already a subscriber? Log In
Does your company have a site license? Inquire here
Already a print subscriber? Upgrade your magazine subscription