AWE Ltd. is selling its nonoperated Eagle Ford oil and gas assets in Karnes County, Texas, according to UBS' A&D advisory team in Houston.
The properties are operated by Marathon Oil Corp. (MRO), and are on about 2,400 net acres, all HBP, in the condensate window of the Eagle Ford.
About 260 gross proved developed producing wells are generating 4,500 barrels of oil equivalent per day (boe/d), 71% liquids. There are about 1,500 gross potential locations remaining.
Multiple benches allow for co-development with total resource potential up to 80MMboe from the stacked Austin Chalk, Upper and Lower Eagle Ford.
The transaction’s effective date is Jan. 1, 2016 and data rooms will be available this December.
UBS Securities LLC was retained as financial adviser.
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