ConocoPhillips Co.

Transaction Type
Sellers
Marketers
Basin
Permian Basin
Post Date
Close Date
Estimated Price
MM
Description

ConocoPhillips Co. retained EnergyNet for the sale of Permian Basin assets in Andrews County, Texas, through a sealed-bid offering.

The offer includes operated and nonoperated interests plus HBP leasehold acreage in five Permian properties with a combined 12-month average net income of more than $192,000 per month.

Lot 49024 - Property Highlights:

  • 100.00% WI / 89.0625% NRI in the Bitler Lease:
    • 20 Producing Wells | 22 Active Injectors
    • Eight Temporarily Abandoned or Shut-In Wells
  • 12-Month Average Net Income: $74,041/Month
  • Six-Month Average 8/8ths Production: 86 bbl/d of oil and 13 Mcf/d of gas
  • 730.00 Gross / Net HBP Leasehold Acres

Lot 49025 - Property Highlights:

  • 100.00% WI / 87.50% NRI in the Texas University -M- and -Q- Leases:
    • Seven Producing Wells | Two Active Injectors
    • Four Temporarily Abandoned or Shut-In Wells
  • 12-Month Average Net Income: $53,652/Month
  • Six-Month Average 8/8ths Production: 57 bbl/d of oil and 66 Mcf/d of gas
  • 483.00 Gross / Net HBP Leasehold Acres

Lot 49026 - Property Highlights:

  • Nonoperated WI in 13 Wells:
    • 75.00% WI / 64.84375% NRI in 11 Producing Lindley Wells
    • 8.300581% WI / 6.91716% NRI in the Producing University B11 28/21 Well (Wellbore Only)
    • 25.00% WI / 21.875% NRI in the Lockhart & Brown 17-2 Well (Non-Producing)
  • 12-Month Average Net Income: $23,916/Month
  • Six-Month Average 8/8ths Production: 108 bbl/d of oil and 153 Mcf/d of gas
  • Operators include Energen Resources Corp., Mewbourne Oil Co. and Southwest Royalties Inc.
  • 331.50 Net HBP Leasehold Acres

Lot 49027 - Property Highlights:

  • 100.00% WI / 87.50% NRI in the University -R- Lease with Five Producing Wells and Two Temporarily Abandoned or Shut-In Wells
  • 12-Month Average Net Income: $12,038/Month
  • Six-Month Average 8/8ths Production: 147 Mcf/d of gas and 5 bbl/d of oil
  • 153.00 Gross / Net HBP Leasehold Acres

Lot 49028 - Property Highlights:

  • 100.00% WI / 80.00% to 87.50% NRI in 13 Wells:
    • Eight Producing Wells | Three Active Injectors
    • Two Temporarily Abandoned or Shut-In Wells
  • 12-Month Average Net Income: $29,341/Month
  • Six-Month Average 8/8ths Production: 56 bbl/d of oil and 54 Mcf/d of gas
  • 1,692.00 Gross / Net HBP Leasehold Acres

Bids are due at 4 p.m. CST July 31. For complete due diligence information visit energynet.com or email Cody Felton, vice president of business development for EnergyNet, at Cody.Felton@energynet.com. For further questions contact Denna Arias, director of transactions and business development for EnergyNet, at 832-403-3125 or Denna.Arias@energynet.com.