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Properties Updated On: 2010-6-15

Available Properties

There are currently 8 properties available:

We are working on other high quality producing property divestments in the Gulf Coast area. Although our data packages are not complete on these fields, we will be glad to discuss them with you.

Goose Creek Field, Harris County, Texas - 100% Working Interests

Status: Available - BIDS DUE AUGUST 18, 2010

LA-TEX Goose Creek, Ltd. is offering its interests in this historic oil field with over two million barrels of remaining net proved oil reserves.

Significant Acquisition Attributes:

  • 32 producing oil wells providing reduced production risk on 588 acres.
  • Gross production is approximately 300 BOPD, net production is about 240 BOPD.
  • 100% working interest with 80% NRI.
  • Third-party reserve report evaluated and certified by Crest Engineering Services.
  • Net cash flow is about $415,000 per month (June rates less direct LOE).
  • Total net Proved reserves are 2.1 million barrels of oil.
  • Present worth value of the net proved reserves is $39 million (PV-15%).
  • Production facilities and well equipment have been greatly upgraded.
  • Numerous stacked pays with numerous Proved Behind Pipe zones.
  • 4 Identified Proved Undeveloped drilling (PUD) locations.
  • Deep Vicksburg prospect potential (100+ BCF).

Contact us regarding this property.

West Texas - Non-Operated Working Interests - Glasscock County

Status: Available

This is a superb new recent oil discovery in Glasscock County, Texas. Development drilling is ongoing and there is future waterflood potential giving the property greater than a 50-year life.

Significant Acquisition Attributes:

  • Seller’s net proven reserves are 711,000 BO and 615 MMCF.
  • 15 new oil wells producing 670 BOPD and 700 MCFD.
  • Seller’s net production is approximately 70 BOPD and 76 MCFD.
  • Seller’s potential net reserves for secondary recovery are 607,000 BO and 481 MMCF.
  • Net proved reserves are valued at $14.7 million.
  • Potential net reserves for secondary recovery are valued at $8.4 million.
  • Seller’s net cash flow is about $166,000 per month.
  • Leasehold position of approximately 1,280 gross acres.
  • Twelve or more development drilling opportunities.
  • Leonardian-age formations ranging in depth from 4,800’ to 7,100’.
  • Seller’s interests vary from 12.50% to 25.00% WI with NRIs from 9.25% to 19.79%.

Contact us regarding this property.

Texas - Operated Working Interests - Live Oak County

Status: Available

Enhanced Energy Partners is requesting proposals for the acquisition of certain operated oil and gas assets including drilling prospects located in the Dinero area approximately 45 miles northwest of Corpus Christi, Texas. This is a joint Burks/PLS sale project.

Significant Acquisition Attributes:

  • 13 producing wells, 7 shut-in wells, and one salt-water disposal well.
  • Multiple leases covering approximately 985 gross acres.
  • The available WI varies from 77% to 100% with NRI varying from 58% to 80%.
  • Net sales are approximately 24 BOPD and 229 MCFD. Water production is 56 BWPD.
  • Proved & Probable reserves are 411 MMCF and 210,000 barrels of oil.
  • Net cash flow is approximately $34,400 per month.
  • There are three identified drilling locations on the Seller’s leasehold.
  • The gas and oil are sweet.

Contact us regarding this property.

Texas - Operated Working Interests - Atascosa County

Status: Available

Enhanced Energy Partners is requesting proposals for the acquisition of certain operated oil and gas assets including drilling prospects located approximately 7.5 miles southeast of Pleasanton, Texas. Pleasanton is about 37 miles south of San Antonio. This is a joint Burks/PLS sale project.

Significant Acquisition Attributes:

  • 2 producing oil wells, 3 shut-in wells with workover potential and 2 active SWD wells.
  • Multiple leases covering approximately 1,299 gross acres.
  • The available working interest varies from 67.5% to 92.5% with net revenue interests varying from 50.6% to 75.4%.
  • Net sales are about 22 BOPD and 27 MCFD.
  • Estimated net cash flow is approximately $12,000 per month.
  • Net proved reserves are 252,000 barrels of oil and 152 MMCF of gas.
  • There are four identified drilling locations and other upside opportunities.
  • The gas and oil are sour.

Contact us regarding this property.

Louisiana - Non-Operated Working Interests

Status: Available

Wave Exploration Group LLC is requesting proposals from qualified potential purchasers for the acquisition of certain non-operated oil and gas assets including drilling prospects located in Louisiana.

Significant Acquisition Attributes:

  • Non-operated WIs in 7 producing wells and 7 behind-pipe zones.
  • Nine identified infill-drilling locations based on offset analogy.
  • Net production is approximately 141 MCFD . and 8 BOPD.
  • Net proved reserves are estimated to be 692 MMCF and 57.3 MBO.
  • Net cash flow from the property is approximately $24,000 per month.
  • Independent, third-party engineering reserve report is available.
  • The PV-10% value of the net proved reserves is estimated to be $3,448,000.
  • The available WIs vary from 11.0% to 2.1% with NRIs from 9.1% to 1.1%.
  • Negotiated sale.

Contact us regarding this property.

Lake Long Field, South Louisiana - Operated Working Interests

Status: Available - BIDS ARE DUE JUNE 30,2010

Mustang Energy, LC and its working interest partners including CL&F Resources LP are requesting proposals from qualified parties for the acquisition of their operated oil and gas assets and drilling prospects located in Lake Long Field, Lafourche Parish, Louisiana.

Significant Acquisition Attributes:

  • Four producing oil and gas wells;
  • Average Working Interest is 80.5% and average NRI is 60.4%;
  • Net production is 1,780 MCFD and 30 BOPD;
  • Net cash flow is about $258,000 per month;
  • Net proved reserves are estimated to be 2,397 MMCF and 173,000 barrels with a PV 10% value of $17.4 million;
  • The leasehold position covers approximately 669 gross acres;
  • There are several behind pipe zones;
  • There are two identified drilling locations;
  • Comprehensive data package including maps, logs, land, financials, reserves, and economics will be provided;
  • Negotiated sale - subject to the first acceptable offer with deposit.

Contact us regarding this property.

Operated Working Interest Package, Harris and Liberty Counties, Texas

Status: Available

Significant Acquisition Attributes:

  • Net Proven Reserves are 7.7 BCFE valued at $17.5 million.
  • Strong lease position of 21,000 (11,300 net) acres valued at $2.8 million.
  • 75 square miles of proprietary 3-D in the lake Houston area valued at $4.5 million.
  • 45 square miles of 3-D in Liberty County.
  • Additional probable net reserves of 3.5 BCFE valued at $8.6 million.
  • All leases positions are covered by 3-D seismic.
  • Numerous prospects in the Deep Wilcox and Cook Mountain formations.
  • Net production is about 1,900 MCFD.
  • Seller’s net cash flow is about $130,000 per month.
  • Ownership averages 71% operated WI and 57% NRI.
  • Additional contingent resources of 300 BCFE in a tight Reklaw gas play.
  • Seller is a UK-based company focusing on its other international operations.

Contact us regarding this property.

East Texas - Non-Operated Working Interests

Status: Available

Ample Energy, Inc., a Birmingham-based energy company, and its partners are offering their non-operated and over-riding royalty interests in this package of wells producing mainly from the prolific Cotton Valley formation.

Significant Acquisition Attributes:

  • 93 gas and oil wells.
  • Net cash flow for the total package is about $78,000 per month and rising.
  • Net production is about 1,027 MCFD and 21 BOPD.
  • Future undiscounted net cash flow of over $21 million.
  • Net proved reserves are approximately 5.3 BCF and 66,000 barrels.
  • The Properties are producing from leases covering about 3,680 gross acres.
  • Working Interest ownership averages approximately 18.71% with a 13.73% NRI.
  • A highly successful and ongoing drilling program targeting long-lived natural gas reserves in the Cotton Valley with additional potential in shallower formations providing a significant inventory of behind-pipe and commingling opportunities.
  • The operator is Chinn Exploration Co.
  • A comprehensive Data Package is available from Burks.
  • Negotiated sale - subject to the first acceptable offer with deposit.

Contact us regarding this property.

Liberty County, Texas - Non-Operated Working Interests

Status: Sold

Two owners have sold their interests in this package of producing properties.

Significant Acquisition Attributes:

  • Twelve producing oil and gas wells;
  • Net production was approximately 60 BOPD and 1,630 MCFD;
  • Net cash flow from the Properties was about $536,000 per month;
  • Net proved reserves are approximately 5.8 BCFE;
  • Present worth value of the net proved reserves, discounted at 20%, is $22 million;
  • The leasehold position covers approximately 2,500 gross acres;
  • Working Interest ownership averages approximately 8.5% with a 6.5% NRI;
  • There are several identified proven behind pipe zones;
  • There are at least five identified drilling locations for proven reserves;
  • Prolific Vicksburg, Yegua, and Cook Mountain formations;
  • Highly successful, ongoing 3-D seismic-based drilling program;
  • Existing wells are less than six years old.

Broussard Field - Lafayette Parish, Louisiana

Status: Sold

Seller was a small Houston-based E&P company.

Significant Acquisition Attributes:

  • Ownership included three new producing oil and gas wells;
  • Gross production was 836 MCFD, 405 BOPD and 138 BWPD;
  • The leasehold position was approximately 800 gross acres;
  • The producing zone is Bol Perca at 10,700';
  • 3-D seismic data was available.

North Minne Bock Field, Nueces County, Texas – Working Interests

Status: Sold

A Southeast Texas operator and a number of its working interest partners sold their interests in this field which has significant and substantial upside potential. This was a joint PLS and Burks project.

Significant Acquisition Attributes:

  • 34 producing oil and gas completions;
  • WI of up to 100% with a net revenue interest of nearly 75%;
  • Net sales and production were about 800 MCFD and 60 BOPD;
  • Net cash flow from the property was approximately $2.3 million for the 2006 year;
  • Nine leases covering approximately 1,580 gross acres held by production;
  • The field contains 93 recognized reservoirs from 28 productive sands. The pay sand depths range from 5,200’ to 8,400’;
  • 182 identified behind pipe recompletions in the existing wells;
  • 30 identified drilling locations;
  • Twenty square miles of 3-D seismic data were acquired over the field in 1994.

Yougeen Field – Bee County, Texas

Status: Sold

A San Antonio-based operator has sold its assets in this field. This was a joint PLS / Burks sales project.

Significant Acquisition Attributes of Yougeen Field:

  • Ownership included 17 producing completions;
  • The available working interest was 100% with an NRI of 80%;
  • Net Production was approximately 63 BOPD and 894 MCFD;
  • Four proven pay sands – Frio/Vicksburg through Yegua - from 3,700’ to 5,700’;
  • Five development drilling locations for proved reserves were identified;
  • Two additional drilling locations for probable reserves were identified;
  • Leasehold position was 4,390 acres.

Edgerly & Barnes Creek Fields - Southwestern Louisiana

Status: Sold

A Houston-based independent has sold its assets in these fields.

Significant Acquisition Attributes of Edgerly & Barnes Creek Fields:

  • Six new producing completions in five wellbores;
  • Net production was approximately 82 BOPD and 230 MCFD;
  • Net cash flow was about $175,000 per month;
  • Net proven reserves were about 308,000 BO and 764,000 MCF;
  • One additional development-drilling location has been identified;
  • Leasehold position was approximately 1,120 gross acres.

Main Pass 59 - Offshore, Louisiana

Status: Sold

A New Orleans-based E&P company has sold a portion of its assets in this property.

Significant Acquisition Attributes:

  • This is an outstanding offshore property with large reserves and good cash flow;
  • Ownership includes 18 oil completions in 14 wellbores;
  • Gross production averages 2,000 BOPD and 700 MCFD depending on facilities constraints;
  • Net proven reserves are estimated to be 13.2 million barrels of oil and 8.0 BCF;
  • There are 14 proven field pay sands identified to date from 4,200 feet to 7,000 feet;
  • Leasehold position consists of approximately 3,746 acres;
  • There are at least six development-drilling opportunities on the acreage and one exploratory well to test a new fault block;
  • 3-D seismic data is available from Western Geophysical;
  • The originals platform is a six-pile, ten-slot structure in approximately 70 feet of water. Additional drilling slots were added during 2001.

South Timbalier 53 Field - Offshore, Louisiana

Status: Sold

An individual has sold his overriding royalty interest in this field.

Significant Acquisition Attributes:

  • An excellent ORRI position with strong current cash flow and seven identified development-drilling prospects;
  • Ownership includes ORRI in 17 producing wells;
  • The available ORRI is 0.625%;
  • Net proven reserves are estimated to be 45 MMCF and 60,000 barrels of oil;
  • Net current production is approximately 12 BOPD and 5 MCFD;
  • Net income is about $7,100 per month;
  • In addition to the seven identified development-drilling prospects, there is one identified exploratory-drilling prospect;
  • Multiple proved future behind-pipe recompletions are present in the existing wells;
  • 5,000 acres are under lease.

Package of Nine Fields in Southeast Texas & South Louisiana

Status: Sold

A north-Texas-based E&P company has sold its assets in these fields.

Significant Acquisition Attributes:

  • Assets include 20 producing wells and related production facilities in nine fields;
  • Net proved reserves are estimated to be 14.1 BCF of gas and 1,656,000 barrels of oil;
  • Net probable reserves and drilling prospects > 21.6 BCF and 580,000 barrels of oil;
  • Exploratory prospects > 16.5 BCF and 1,242,000 barrels of oil potential (net);
  • WI ranges from 100% to 14% with a NRI range from 70.5% to 10.6%;
  • Net revenue production is approximately 492 BOPD and 4.9 MMCFD;
  • Net monthly operating profit averages around $574,000;
  • There are multiple behind-pipe recompletion zones;
  • Gross leasehold acreage held by production is 4,237 acres - net acreage is 2,684;
  • Limited 3-D seismic data is available;
  • The fields are located either on land or within shallow inland-water and bay areas that are readily accessible by marine vessels.