ConocoPhillips Co.

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ConocoPhillips Co. retained EnergyNet to sell operated Permian Basin properties in Ector County, Texas, through a sealed-bid offering.

The offering includes operations in 152 wells plus more than 4,000 net HBP leasehold acres. Bids are due at 4 p.m. CST on Nov. 7.

Highlights:

• 68.329181% Working Interest / 59.509788% Net Revenue Interest in the North Penwell Unit:
  • 52 Producing Wells | 35 Active Injector | 49 Temporarily Abandoned/Shut-In Wells
  • As to the Unitized Depths Only
• 100% Working Interest / 87.5% Net Revenue Interest In 15 Millard Wells:
  • 10 Producing Wells | 1 Active Injector | 4 Temporarily Abandoned/Shut-In Wells
• 55% Working Interest / 41.250812% Net Revenue Interest in the Shut-In Blakeney E 4 Well (Wellbore Only)
• Six-Month Average 8/8ths Production: 338 Barrels Per Day of Oil and 1.137 Million Cubic Feet Per Day of Gas
• 12-Month Average Net Income: $168,569 Per Month
• 4,074.94 Net HBP Leasehold Acres:
  • 3,091.91 Net Acres Held by the North Penwell Unit
    • 2,446.78 Net Acres as to the Glorieta Formation
    • 2,886.44 Net Acres as to the San Andres Formation
    • 2,241.32 Overlapping Net Acres
  • 983.03 Net Acres Held by the Millard Wells (As to all Depths)

For information on this listing visit energynet.com or contact Cody Felton, vice president of business development for EnergyNet, at Cody.Felton@energynet.com or 281-221-3042. For additional information contact Denna K. Arias, director of transactions and business development for EnergyNet, at Denna.Arias@energynet.com or 832-403-3125.