The following information is provided by TenOaks Energy Advisors LLC. All inquiries on the following listings should be directed to TenOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Pacific Coast Energy Co. has engaged TenOaks Energy Advisors as its exclusive adviser in connection with the sale of certain operated and nonoperated oil properties located in Santa Barbara and Los Angeles counties in California.
Highlights:
- Legacy, Conventional Oil Field with Long Long-lived Production
- Primary operated property located in the historic Orcutt Field with over 1.2 billion barrels OOIP
- Multiple producing formations
- Net Production: 1,112 barrels of oil equivalent per day
- 6% base proved developed producing (PDP) decline
- Net Cash Flow: $900,000 per month
- Brent pricing provides a premium over West Texas Intermediate
- Primary operated property located in the historic Orcutt Field with over 1.2 billion barrels OOIP
- Multiple Upside Opportunities
- Active drilling program in the Diatomite formation
- Multiple permitted and drillable upside locations
- Most recent drilling performing well above the type curve
- Real-estate portfolio worth about $23 million (some of which can be sold near-term)
- Additional other income from multiple sources related to surface ownership
- Active drilling program in the Diatomite formation
Bids are due Jan. 31. The virtual data room opens Dec. 14.
For information visit tenoaksenergyadivsors.com or contact Lindsay Sherrer, partner of TenOaks, at Lindsay.Sherrer@tenoaksadvisors.com or 214-420-2324.
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