The following information is provided by Simplex Energy Solutions LLC. All inquiries on the following listings should be directed to Simplex Energy. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
EverQuest Energy Corp. retained Simplex Energy Solutions LLC as its exclusive adviser for the sale of an operated working interest package in the Permian Basin in New Mexico’s Lea County.
Current production comes from the Queen, Penn, and Devonian formations from 11 active producers plus two saltwater disposal wells. Upside opportunities include infill drilling additional vertical wells on 40-acre spacing (currently drilled on 80-acre proration tracts), recompleting six wells and installing a Penrose sand waterflood, according to Simplex.
Highlights:
- $53,221/month Net Income (average June-August)
- Located northwest and west of Lovington, New Mexico
- 2,040 gross acres (approximately)
- 100% - 80% Working Interest
- 81.3% - 75% Net Revenue Interest
- Gross Production (average September-August): 45.3 bbl/d of Oil / 28.7 Mcf/d of Gas
The opportunity is being offered on a bid-basis with offers due by 4 p.m. CST on Oct. 13. Contact Karl Reiter at kreiter@simplexenergy.com or 432-683-3791 with any additional questions.
Recommended Reading
Gunvor Group Inks Purchase Agreement with Texas LNG Brownsville
2024-03-19 - The agreement with Texas LNG Brownsville calls for a 20-year free on-board sale and purchase agreement of 0.5 million tonnes per annum of LNG for a Gunvor Group subsidiary.
Asia Spot LNG at 3-month Peak on Steady Demand, Supply Disruption
2024-04-12 - Heating demand in Europe and production disruption at the Freeport LNG terminal in the U.S. pushed up prices, said Samuel Good, head of LNG pricing at commodity pricing agency Argus.
Permian Gas Finds Another Way to Asia
2024-04-30 - A crop of Mexican LNG facilities in development will connect U.S. producers to high-demand markets while avoiding the Panama Canal.
CERAWeek: JERA CEO Touts Importance of US LNG Supply
2024-03-22 - JERA Co. Global CEO Yukio Kani said during CERAWeek by S&P Global that it was important to have a portfolio of diversified LNG supply sources, especially from the U.S.
CERAWeek: LNG to Play Critical Role in Shell's Future, CEO Says
2024-03-19 - Sawan said LNG will continue to play a critical role adding that LNG currently makes up around 13% of gas sales but was expected to grow to around 20% in the coming 15 to 20 years.