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Properties Updated On: 2008-08-23

Available Properties

There are currently 3 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 Interest

Status: Updated Data Package Available September 15, 2008 - Offers Due October 30, 2008

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

Significant Acquisition Attributes:

  • 34 producing oil wells providing reduced production risk on 588 acres.
  • Gross production is approximately 340 BOPD and net production is about 272 BOPD.
  • 100% working interest with 80% NRI.
  • Third-party reserve report evaluated and certified by Crest Engineering Services.
  • Net cash flow from the Property is about $680,000 per month.
  • Total net Proved reserves are 2,251,000 barrels of oil.
  • Present worth value of the net proved reserves, discounted at 15% is $60 million.
  • Production facilities and well equipment have been greatly upgraded in the last 4 years.
  • Numerous stacked pays with numerous Proved behind pipe zones.
  • 4 Identified Proved undeveloped drilling (PUD) locations.
  • Deep Vicksburg potential (100+ BCF).

Contact us regarding this property.

Bayou Postillion & Three Bayou Bay, South Louisiana - Operated and Non-Operated Working Interests

Status: Available

Sandalwood Oil & Gas, L.P. and certain of its working interest owners are offering their interests in this package of producing properties in the prolific Bayou Postillion area and in an oil well in Three Bayou Bay.. This is a joint project with PLS, Inc.

Significant Acquisition Attributes:

  • Five producing gas and gas wells - one is operated by Sandalwood;
  • Gross sales are about 37 MCFD and 341 BOPD;
  • Net sales are 3,060 MCFD and 22 BOPD;
  • Net cash flow is about $1,276,000 per month;
  • Net proved reserves estimates are 10,300 MMCF and 55,000 barrels of oil;
  • Present worth value of the net proved reserves at PV-20% is $40 million;
  • The leasehold position covers approximately 600 gross acres;
  • Working interests in Postillion average about 21.7% with a 15.6% NRI;
  • There are two proven behind pipe zones;
  • There are eight identified drilling locations;
  • Comprehensive data package including maps, logs, land and financials is available;
  • Negotiated sale - subject to the first acceptable offer with deposit.

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 $340,000 per month and rising.
  • Net production is about 1,447 MCFD and 18 BOPD.
  • Future undiscounted net cash flow of over $53 million.
  • Net proved reserves are approximately 6.1 BCF and 82,300 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.