Texas American Resources Holdings has retained Bank of America Merrill Lynch and Anderson O&G Inc. to sell all of its East Texas assets.
The package includes 22 operated producing wells in the Cotton Valley and Pettet zones, on 2,750 net acres, primarily held by production, and 1,688 net acres of Haynesville rights. The Haynesville acreage has been derisked by numerous offset producing wells. Most of the acreage is in Panola County (Beckville Field) and has been relatively sparsely drilled, having a future drilling inventory of 71 wells in the Cotton Valley , Pettet, and Haynesville reservoirs.
Net production is 3.4 million cubic feet of gas equivalent per day. Net cash flow is approximately $515,000 per month. Net proved and probable reserves are 97 billion cubic feet equivalent.
Contact Bill Anderson, 214-270-0846, wanderson@andersonog.com.
Recommended Reading
Help Wanted (Badly): Attracting Workers to Energy is Becoming Difficult
2024-03-27 - Attracting workers to the energy industry is becoming a difficult job, despite forecasted growth in the industry.
Stena Evolution Upgrade Planned for Sparta Ops
2024-03-27 - The seventh-gen drillship will be upgraded with a 20,000-psi equipment package starting in 2026.
Petrobras to Step Up Exploration with $7.5B in Capex, CEO Says
2024-03-26 - Petrobras CEO Jean Paul Prates said the company is considering exploration opportunities from the Equatorial margin of South America to West Africa.
E&P Highlights: March 25, 2024
2024-03-25 - Here’s a roundup of the latest E&P headlines, including a FEED planned for Venus and new contract awards.
TotalEnergies Restarts Gas Production at Tyra Hub in Danish North Sea
2024-03-22 - TotalEnergies said the Tyra hub will produce 5.7 MMcm of gas and 22,000 bbl/d of condensate.