Shenandoah Resources LLC retained E-Spectrum Advisors LLC to sell properties in Garza, Lynn, and Howard Counties, Texas, E-Spectrum said June 1. The online data room is now open. Bids are due June 25.
There are 54 wells producing about 619 barrels of oil per day (bbl/d). There are seven injection wells and six disposal wells. The average monthly cash flow for six months was about $500,000, Shenandoah said.
The average operated working interest is 82.5%, and the package includes 7,534 gross/ 6,438 net acres delivering an average 62% net revenue interest.
Low-cost reentries and new drill opportunities are some of the project areas. Net proved reserves are 3.6MMbbl with a $73.9 million PV-10 value.
E-Spectrum Advisors Inc. is based in Dallas.
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