Taos Resources Holding Co. LLC is selling its operated Midcontinent and Gulf Coast oil and gas assets throughout Kansas and Texas.
The assets include a large, oil-weighted and largely-HBP position with economic upside opportunities, according to Detring & Associates LLC, which has been retained by the Houston company as exclusive adviser.
Highlights:
- 29,863 net acres;
- 91% HBP;
- 520 barrels of oil equivalent per day (boe/d) of net production;
- 90% oil;
- About $4 million operating cash flow for the last 12 months;
- Operated with 92% average working interest;
- 80% average lease net revenue interest;
- Upside opportunities;
- About 80 vertical Mississipian proved undeveloped locations offer 35%-50% rate of return (Kansas);
- Multiple economic vertical and horizontal Gulf Coast projects (Texas); and
- About 1 MMboe of proved developed non-producing reserves.
Bids are due June 15. The virtual data room opened May 13. Data room presentations are available upon request.
For information contact Derek Detring, president of Detring & Associates, at 713-705-8721.
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