Battlecat Oil Gas, Grey Rock Energy Partners, TenOaks Energy Advisors, Eagle Ford, shale, oil window, sale, marketed, on the market, oil, natural gas, Gonzales, Texas, Marathon Oil, EOG Resources, Penn Virginia, Austin Chalk

Battlecat Oil & Gas LLC and Grey Rock Energy Partners are offering certain operated Eagle Ford Shale assets in a sale handled by TenOaks Energy Advisors LLC.

The offer consists of 100% working interest in a contiguous acreage position located in the heart of the Eagle Ford’s oil window in Gonzales County in South Texas.

The company has had encouraging results from initial development including one of the highest producing wells in the area despite modest completion techniques, according to TenOaks. The well is currently producing about 130 gross (100 net) barrels per day (bbl/d) of oil.

Highlights:

  • Contiguous 4,587 gross (4,543 net) acres (15% HBP) in the heart of the Eagle Ford oil window;
    • Includes all depths and operational control;
    • 100% working interest and 76.25% net revenue interest;
  • Position offset by Marathon Oil Corp. (NYSE: MRO), EOG Resources Inc. (NYSE: EOG) and Penn Virginia Corp.;
  • Development program provides significant upside in the Eagle Ford and Austin Chalk, TenOaks said;
    • 69 locations in the Eagle Ford (EUR of 590 Mbbl of oil);
      • Locations based on single bench (upper/lower combined);
    • 54 locations in the Austin Chalk (EUR of 590 Mbbl of oil);
  • Infrastructure in place to sustain future growth;
  • Six additional wells will HBP majority of drillable acreage, the firm said; and
  • Internal rate of returns of 40%-70% at current commodity prices.

In addition, the acreage has a shallower oil window depth, which allows for lower drilling and completion costs ranging from $4.5 million to $5 million for a one-mile lateral, TenOaks said.

Offers are due by noon CT Oct. 7. For information visit tenoaksenergyadvisors.com or contact B.J. Brandenberger, TenOaks partner, at 214-420-2323.