EnergyNet, Barnett, shale, Fort Worth Basin, Illinois Basin, oil, natural gas, VTX Energy, White Oak Energy, White Oak Resources, auction, sale, on the market, marketed, Texas, Jack County, Wise County, Illinois, Indiana, Posey County, White County, Wabas

Oil and gas companies are selling assets in the Fort Worth and Illinois basins in separate offerings through EnergyNet.

In the Fort Worth Basin, an affiliate of White Oak Energy LLC is auctioning its interests in Barnett Shale wells in North Texas.

Additionally, VTX Energy LP has operated assets plus leasehold acreage in the Illinois Basin for sale in a sealed-bid offering. The assets are located in Illinois and Indiana.

For information visit energynet.com or contact EnergyNet’s Cody Felton at 281-221-3042.

White Oak—Barnett Shale

White Oak Resources VI LLC’s interests in 124 wells located in the Barnett Shale within the Fort Worth Basin are for sale through an auction. The company is an affiliate of White Oak Energy.

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The offer includes operated and nonoperated working interests and overriding royalty interest. The assets are located in Jack and Wise counties in North Texas.

Highlights:

  • Operated working interest in 86 wells;
    • 39.246094%-100% gross working interest;
    • 28.230957%-87.5% net revenue interest;
  • Nonoperated working interest in 38 wells;
    • 0.305494%-75% gross working interest;
    • 0.1679%-65.625% net revenue interest;
    • 0.42766%-2.8125% overriding royalty interest;White Oak Energy, Barnett, shale, operated, nonoperated, working interests, EnergyNet, chart
    • Operators include Burlington Resources Oil & Gas Co., Cary Oil & Gas Inc., Devon Energy Corp. (NYSE: DVN), EOG Resources Inc. (NYSE: EOG) and McCommons Oil Co.;
  • 19 proved undeveloped locations (11 horizontal) operated by Devon in Wise;
  • Six-month average 8/8ths production of 9.955 million cubic feet per day and 42 barrels per day (bbl/d) of oil; and
  • Seven-month average net cash flow is $49,000 per month.

Bidding opens at 2 p.m. CT Nov. 9, and closes at 2 p.m. CT Nov. 16.

White Oak is also offering seven additional properties in the Gulf Coast Basin in Texas and Louisiana, EnergyNet said.

VTX Energy—Illinois Basin

VTX Energy is selling its operated working interest and leasehold acreage within the Illinois Basin through a sealed-bid offering.

Illinois, Indiana, Posey County, Wabash County, White County, map, EnergyNet, oil, natural gas, Illinois Basin

The sale is comprised of 100% gross working interest with operations in 10 wells. The assets are located in White and Wabash counties, Ill., and Posey County, Ind.

Highlights:

  • Operated interest in nine producing wells and one saltwater disposal well;
    • 100% gross working interest;
    • 75%-77.5% net revenue interest;
  • 1,150 gross (990 net) leasehold acres;
    • 20% of acreage is HBP;
  • Six-month average 8/8ths production of 96 bbl/d;
    • Four-month gross oil sales of 13,495 bbl;
    • August gross oil sales of 103 bbl/d of oil;
  • Four-month average net cash flow of $85,657 per month;
    • Four-month cumulative net cash flow of $343,000; and
    • $1.03 million annualized net cash flow.

The offer also includes potential upside, according to EnergyNet.

Offers are due at 4 p.m. CT Nov. 16.