Territory Resources LLC has retained E-Spectrum Advisors to sell non-operated interest in its East Cement Marchand EOR Unit. The unit, operated by Territory, is located in Caddo County, Oklahoma, US.
Territory acquired the assets in February 2015 and has since increased production from approximately 100 bpd to approximately 380 bpd. The opportunity set offers extensive development inventory comprised of: 19 proved fracture stimulation / workovers (PDNP, PDBP), 20 Proved 20-Acre infills, 34 Proved 10-Acre infills and 4 Proved 10-Acre redrills.
Net Proved reserves are 10.685 million boe with a PV-10 value of US$112.1 million. Forecasted 2016 net production is 309 BOPD without continued development.
The online data room opens April 5 and physical data rooms will be available starting 11 April.
Edited from press release by Angharad Lock
Read the article online at: https://www.hydrocarbonengineering.com/refining/14042016/territory-resources-sells-caddo-march-unit-interest-590/