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Properties Updated On: 2011-12-28

Available Properties

There are currently 4 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.

Broussard Field, Lafayette Parish, Louisiana - Non-Operated Working Interests

Status: Available

Significant Acquisition Attributes:

  • Three producing oil wells and one saltwater disposal well;
  • Average WI is 10.5% with a 7.9% average NRI;
  • Current gross production is around 295 BOPD, 324 MCFD and 313 BWPD;
  • Current net production is about 23 BOPD and 26 MCFD;
  • Net cash flow is approximately $64,000 per month;
  • Net proved producing reserves are estimated to be 33,000 BO and 34,000 MCF;
  • Future net cash flow is estimated to be $2.36 million;
  • Leases covering approximately 800 gross acres of which about 150 acres are unitized;
  • Negotiated sale - first acceptable offer basis.

Contact us regarding this property.

Significant Gas Discovery in the Prolific Arkoma Basin

Status: Available

BuRay Energy International, LLC is requesting proposals for the acquisition of its operated gas wells, leases, and drilling prospects in LeFlore County, Oklahoma. BuRay is resource rich but lacks capital to exploit its gas discovery.

Significant Acquisition Attributes:

  • Holds approximately 3,500 acres;
  • Operates six wells - current production is minimal;
  • Offsets the Potato Hills Field, one of Oklahoma's largest gas fields;
  • Offers 100% Working Interest with 75% NRI;
  • Has an independent engineering estimate of the gas in place of 293 BCF;
  • Has net proved reserves with a PV-10% value of $70 million;
  • Provides at least 19 offset drilling opportunities;
  • Has its own gathering system, compression, and pipeline connection to a major interstate pipeline;
  • Produces high quality natural gas; and
  • Offers all rights to all depths including additional deep Arbuckle potential.
  • Meaningful production can be quickly established with a $1.5 million expenditure on one of the wells.

Contact us regarding this property.

West Cameron Block 168 - Offshore, Louisiana

Status: Available

The property is operated by Linder Oil Company.

Significant Acquisition Attributes:

  • Sellers own interests in five wells in West Cameron Block 168 covering 5,000 gross acres.
  • The WI available for acquisition is 100% with NRIs averaging around 65.33%.
  • Gross production is about 850 BOPD and 2.1 MMCFD.
  • Net proved reserves are estimated to be 1.37 million barrels and 11 BCF. The PV10% value of the proved reserves is $94 million.
  • There is an independent third-party engineer's reserve report.
  • Recent net cash flow is estimated to be $1,470,000 per month.
  • There is a 5% ORRI available for acquisition.
  • There are five identified proved behind pipe recompletions.
  • There is one proved undeveloped location identified on the Sellers' leasehold position and one strong exploration prospect.
  • The gross potential reserves for the exploration prospect are estimated to be 1.5 million barrels and 12 BCF.

Contact us regarding this property.

Lake Long Field, South Louisiana - Operated Working Interests

Status: Available

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:

  • Two producing oil and gas wells;
  • Average Working Interest is 78.6% and average NRI is 58.7%;
  • Net production is 270 MCFD and 45 BOPD;
  • Net cash flow is about $126,000 per month;
  • Net proved reserves are estimated to be 295 MMCF and 52,000 barrels with a PV 10% value of $3.8 million;
  • The leasehold position covers approximately 372 gross acres;
  • There is one behind pipe zone;
  • 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.

Main Pass Block 35 and Five Other Fields in South Louisiana

Status: Sold

HKN, Inc. and its wholly owned subsidiary, XPLOR Energy Operating Company, has sold its oil and gas assets in the Main Pass Block 35, Lake Raccourci, Point a la Hache (Bakers Bay), Branville Bay (Chandeleur Sound Block 71), Lapeyrouse, and East Lake Verret fields.

Significant Acquisition Attributes:

  • 30 producing wells with a leasehold position of 8,314 gross acres.
  • Net production of 298 BOPD and 855 MCFD.
  • Net cash flow of $608,000 per month.
  • Net proved reserves of 1,358,000 BO and 1,554 MMCF.
  • Net Probable & Possible reserves of 794,000 BO and 4,729 MMCF.
  • There is an independent third-party engineer's reserve report.
  • Main Pass Block 35 Field became one of Shell's major discoveries in the 1950's. The field, with its 10 linked platforms and oil pipeline, is in a strategic location within Louisiana's coastal waters and has unique characteristics such as third-party oil, gas, and water processing services for neighboring fields.
  • Numerous upside opportunities including a significant exploration play at Main Pass 35.

Operated Working Interests - Mississippi

Status: Sold

Odyssey Petroleum Corp. (US), operating under Chapter 11 bankruptcy protection, divested its oil and gas assets in Mississippi.

Highlights:

  • Assets include interests in the Pelahatchie, Verba, and Barber Creek fields;
  • Odyssey's ownership includes 19 oil wells and two SWD wells;
  • Production from 9 wells averaged 143 BOPD gross and 102 BOPD net;
  • Working Interests are mostly 100% with NRIs about 72%;
  • Net operating revenue is estimated to be about $238,000 per month;
  • The fields offer multiple productive zones from 7,500 feet to 17,000 feet;
  • There are several behind pipe recompletions in the existing wells;
  • Net proved reserves are 712,000 barrels and 140 MMCF (PV-10% is $22.5 million) per the Fletcher Lewis Engineering report as of 1/1/10, constant price case;
  • The four wells in the Barber Creek Field are slated for abandonment;
  • In addition to the above reserves, over 40 drilling locations have been identified for the unexploited Norphlet, Smackover, Haynesville and Cotton Valley formations.

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.

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.

Goose Creek Field, Harris County, Texas

Status: Sold

A partnership has sold its interests in this 100-year oil field.

  • 32 producing oil wells.
  • Gross production is approximately 265 BOPD.
  • 100% working interest.
  • Estimated net proved reserves are about 2 million barrels of oil.
  • Present worth value of the net proved reserves is $35 million (PV-15%).
  • Stacked pays with numerous proved behind-pipe zones.
  • 4 Identified proved undeveloped drilling locations.
  • Deep Vicksburg gas potential.