EOG Resources Inc. (NYSE: EOG) and Encana Corp. (NYSE: ECA) are offering operated interests in the Permian Basin, according to EnergyNet, which has been retained to handle the transactions.
In the Midland Basin, EOG is selling working interests in 30 Permian wells, including Wolfcamp producers and HBP leasehold acreage in Crockett County, Texas.
Encana's subsidiary, Encana Oil & Gas (USA) Inc., is also selling operations in six producing Permian wells in Martin County, Texas.
EOG—Crockett County
EOG’s Permian wells are located in the Midland Basin in northwestern Crockett. The company is selling its operated working interests through a sealed bid offering.
Highlights:
- Operated interest in 30 wells;
- 46.06875%-100% gross working interest and 34.55156%-75% net revenue interest;
- 20 producing, five active injection and five non-producing wells;
- 23 Wolfcamp producers;
- Six-month average production is 804 barrels per day (bbl/d) of oil and 481 thousand cubic feet per day (Mcf/d) of gas;
- 12-month average net cash flow is $561,222 per month; and
- 2,940 gross (1,895.3 net) HBP leasehold acres.
Offers are due by 4 p.m. CT on Sept. 1. For information visit energynet.com or contact EnergyNet's Lindsay Ballard at 512-269-9021.
Encana—Martin County
Encana’s offering includes interest in two Wolfcamp producers.
Highlights:
- Operations in six producing vertical wells (wellbore only);
- Six-month average 8/8ths production is 38 bbl/d of oil and 138 Mcf/d of gas; and
- Five-month average net income of $16,562 per month.
The auction opens at 2:15 p.m. CT on Aug. 31, and closes at 2:15 p.m. CT on Sept. 7. For information visit energynet.com or contact EnergyNet's Ryan P. Dobbs at 720-459-2072.
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