WEC Onshore LLC is selling South Texas and Louisiana assets in separate sealed-bid offerings through EnergyNet.
In Texas, WEC is offering operations in producing wells in Dimmit County in the Big Wells Field. The company is also selling another package of operated working interest in wells in Louisiana's Beaver Dam Creek Field.
Tradition Resources Operating LLC operates the assets.
Bids for both packages are due at 4 p.m. CT Nov. 10. For information visit energynet.com or contact EnergyNet's Cody Felton at 281-221-3042.
Dimmit County, Texas—Big Wells Field
Highlights:
- 11 producing wells;
- 100% gross working interest and 75% net revenue interest;
- 440 gross/net HBP acres;
- Rights restricted to the San Miguel and Lo East Zones;
- Six-month average 8/8ths production is 83 barrels per day (bbl/d) of oil;
- October well cleanouts and chemical treatments performed increased production to 109 bbl/d of oil, according to EnergyNet; and
- 12-month average net cash flow of $34,852 per month.
The assets also include upside potential for water flood, CO2 or re-stimulation work, EnergyNet said.
St. Helena Parish, La.—Beaver Dam Creek Field
Highlights:
- 11 wells;
- Three producing, six shut-in, one saltwater disposal and one temporarily abandoned saltwater disposal well;
- 89.065%-100% working interest and 67.22269%-75.6% net revenue interest (before payout);
- Six-month average 8/8ths production of 134 bbl/d of oil (excludes downtime periods); and
- 12-month average net cash flow of $53,516 per month.
Upside potential of the assets include:
- Drill new wells or side-track existing wells to capture additional Lower Tuscaloosa reserves;
- Restore shut-in wells to production (most recent representative tests suggest viable reserve targets may be present); and
- Recomplete to shallower gas zone (numerous sidewall cores indicate Wilcox Sand to be gas bearing).
In addition, the field is situated within the “resistive” Tuscaloosa Marine Shale trend, EnergyNet said.
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