Orbit Energy Partners LLC has retained Energy Spectrum Advisors Inc. to sell certain oil and gas properties in south Louisiana. The properties are located in Acadia, Allen, Beauregard, Calcasieu, Cameron, Evangeline, St. Landry and Jefferson Davis parishes, La.
The properties include ownership in 30 non-operated wells producing 1,630 gross/235 net barrels of oil equivalent. Net operating cash flow has averaged $311,722 per month for the twelve months ending June 2012. The sale also includes proprietary 3-D seismic data covering 499 square miles and licensed 3-D seismic data covering 752 square miles. A total of 85,280 gross acres is either under option or first right of refusal to lease in the proprietary 3-D seismic areas.
Proved reserves are 372 Mbbl of oil and 1,067 MMcf of natural gas (80% proved developed producing). Probable and possible reserves total 482 MBOE. Additional upside exists in twenty identified prospects with gross unrisked potential reserves of 56 MMBOE as well as unidentified prospects in the proprietary 3-D seismic areas.
The data toom opens October 16. Bids are due November 15.
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