Canela Petro LP is selling operated interests in 76 wells, nearly half of them producing, in the Odem Field in San Patricio County, Texas.
Wagner Oil Co., based in Fort Worth, Texas, operates Canela’s position in San Patricio. The two companies share the same office address and a Wanger executive is Canela’s registered agent.
EnergyNet has been retained to handle the sale.
Highlights:
- Gross working interest ranges from 32.7712% to 54.6178%;
- Net revenue interest ranges from 24.5817% to 43.971%;
- 33 producing wells;
- Four saltwater disposal wells;
- 39 non-producing wells;
- Six-month average 8/8ths production:
- 1,318 thousand cubic feet per day;
- 58 barrels of oil per day; and
- Average 12-month net cash flow is $17,853/month.
The auction opens at 1:45 p.m. CDT Aug. 17 and closes at 1:45 p.m. CDT Aug. 24. Due diligence information is available at www.energynet.com or by contacting Michael Baker at 972-898-5358.
Recommended Reading
Sinopec Brings West Sichuan Gas Field Onstream
2024-03-14 - The 100 Bcm sour gas onshore field, West Sichuan Gas Field, is expected to produce 2 Bcm per year.
Chevron Hunts Upside for Oil Recovery, D&C Savings with Permian Pilots
2024-02-06 - New techniques and technologies being piloted by Chevron in the Permian Basin are improving drilling and completed cycle times. Executives at the California-based major hope to eventually improve overall resource recovery from its shale portfolio.
US Gas Rig Count Falls to Lowest Since January 2022
2024-03-22 - The combined oil and gas rig count, an early indicator of future output, fell by five to 624 in the week to March 22.
CEO: Continental Adds Midland Basin Acreage, Explores Woodford, Barnett
2024-04-11 - Continental Resources is adding leases in Midland and Ector counties, Texas, as the private E&P hunts for drilling locations to explore. Continental is also testing deeper Barnett and Woodford intervals across its Permian footprint, CEO Doug Lawler said in an exclusive interview.
E&P Highlights: April 8, 2024
2024-04-08 - Here’s a roundup of the latest E&P headlines, including new contract awards and a product launch.