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East Texas Exploration, LLC (“ETE”) is offering for sale its oil and gas leasehold and related assets located in Harrison and Panola Counties, Texas

  • State/Province: Texas
  • Country: United States
  • Quantity: 1
  • Allow Deals: Yes
  • I Want To: Sell
  • Telephone Number: (713) 595-1004
  • Email Address: mel@detring.com
  • Listed: May 9, 2019 12:48 pm
  • Expires: This ad has expired


East Texas Exploration, LLC (“ETE”) is offering for sale its oil and gas leasehold and related assets located in Harrison and Panola Counties, Texas. The assets offer an attractive opportunity to acquire ~17,000 contiguous net acres (62% Operated, 100% HBP) with exposure to multiple liquids-rich, stacked-pay horizontal targets across the Cotton Valley and Travis Peak formations. ETE has retained Detring Energy Advisors as its exclusive advisor relating to the transaction.

Asset Highlights:

· 17,000 Net Acres (100% HBP)

o Large, contiguous, HBP acreage position with rights to all zones above the Haynesville Shale

§ 10,500 net acres operated (~100% avg. WI)

§ 6,500 net acres operated by Covey Park (~40% avg. WI)

o Liquids-rich Stacked Pay (Primary Targets: Lower Taylor Cotton Valley and Travis Peak Sands)

§ Cotton Valley de-risked with optimized completion techniques yielding ~1.5 Bcfe/1,000’ EUR

§ The Burnett interval of the Travis Peak formation has yielded robust economics with the strongest well delivering ~1,000 Boed IP30 (90% oil) from ~2,200’ of treated lateral, achieving pay-out in four months

§ Additional resource potential includes both Upper Cotton Valley Sands (BCD and Davis) and the Travis Peak McJimsey interval

· Significant Proved Reserves & Cash Flow

o 4 MMcfed net operated production (45% liquids)

o ~$3.8MM NTM cash flow (PDP only)

o 41 Bcfe net proved reserves (45% liquids)

§ 10.7 Bcfe net PDP reserves (48% liquids)

§ $42MM PV-10 (1P)

Process Overview:

· Evaluation materials available via the Virtual Data Room (“VDR”) on Monday, July 30th

o Data room presentations available upon request

· Proposals due on Wednesday, August 29th

Please see the attached opportunity overview for additional details regarding the properties and sales process.

Please contact Matt Loewenstein to request a confidentiality agreement, schedule a presentation, or learn more about this opportunity.

Derek Detring

derek@detring.com / (713) 595-1001

Melinda Faust

mel@detring.com / (713) 595-1004

Matthew Loewenstein

matt@detring.com / (713) 595-1003

Richard Ball

richard@detring.com / (713) 595-1005

Melinda Faust | Director | Detring Energy Advisors

1885 St. James Place, Ste. 1200 | Houston, TX 77056

Mobile: (512) 296-4653 | E-Mail: mel@detring.com | Web: www.detring.com

Listing ID: 3545b509f510639f

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