The following information is provided by RedOaks Energy Advisors LLC. All inquiries on the following listings should be directed to RedOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Butkin Oil Co. LLC is offering for sale certain operated, conventional oil properties in Carter and Stephens counties, Okla.
The retained RedOaks Energy Advisors LLC, an advisory firm founded in 2018 as an affiliate of TenOaks Energy Advisors LLC, as its exclusive adviser in connection with the sale.
Asset Highlights:
- 1,250 net acres (100% HBP) in the Sho-Vel-Tum Field
- Long-lived predictable asset
- Recent net production: about 78 barrels per day (97% oil)
- Annualized 2018 cash flow: $1.14 million
- Proved developed producing (PDP) PV-10 value: $5.3 million
- First-year projected PDP decline of about 3.5%
- Upside with Minimal Capital Investment
- Operational optimization
- Return to production of idle wellbores
Bids are due Jan. 31. For information visit redoaksenergyadvisors.com or contact David Carter, managing director of RedOaks, at David.Carter@redoaksadvisors.com or 214-420-2334.
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