The following information is provided by EnergyNet. All inquiries on the following listings should be directed to EnergyNet. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Foundation Energy Management LLC retained EnergyNet for the sale of two asset packages in Texas totaling 105 wells, a chunk of which are located in Polk County.
In the first package (Lot 89587), Foundation Energy Fund IV-A LP is offering operated and nonoperated working interest in 23 wells plus one saltwater disposal in Polk County, Texas, through an auction closing Feb. 16.
Lot 89587 Highlights:
- Operated Working Interest in 23 Wells:
- 96.12693% to 25.00% Working Interest / 69.211395% to 19.3125% Net Revenue Interest
- 13 Producing Wells | One Saltwater Disposal Well | Eight Shut-In Wells | One Temporarily Abandoned Well
- Nonoperated Working Interest in the Producing Overton #1 Well:
- 6.25% Working Interest / 4.38281% Net Revenue Interest
- Operator: Arcadia Resources Inc.
- Six-month Average 8/8ths Production: 15 bbl/d of Oil
- 12-Month Average Net Income: $4,275/Month
- Operator Bond Required
- Mortgages to be Released at Closing
Bids are due for Lot 89587 by 1:45 p.m. CST on Feb. 16.
In another package (Lot 90862), Foundation Energy Fund IV-A LP is offering operated working interest in 82 wells in Eastland, Haskell, Jones, Runnels, Stephens and Stonewall counties, Texas, through an auction also closing Feb. 16.
Lot 90862 Highlights:
- Operated Working Interest in 82 Wells:
- 100.00% to 75.00% Working Interest / 87.50% to 56.25% Net Revenue Interest
- 43 Producing Wells | 14 Injection Wells | One Saltwater Disposal Well | 22 Shut-In Wells | Two Temporarily Abandoned Wells
- Six-month Average 8/8ths Production: 64 bbl/d of Oil and 32 Mcf/d of Gas
- Six-month Average Net Income: $51,827/Month
- Operator Bond Required
- Mortgages to be Released at Closing
Bids are due for Lot 90862 at 1:50 p.m. CST on Feb. 16.
For complete due diligence information on either package visit energynet.com or email Zachary Muroff, vice president of business development, at Zachary.Muroff@energynet.com, or Denna Arias, vice president of corporate development, at Denna.Arias@energynet.com.
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