DALLAS--(BUSINESS WIRE)--GMY-FW, LP and Eagle Mountain Resources, LLC have retained Energy Spectrum Advisors Inc. to sell certain oil and liquid-rich natural gas non-operated properties in the Eagle Ford Shale trend in Gonzales County, Texas.
January gross daily production averaged 7,960 barrels of oil and 4,790 million cubic feet of gas for a total of 8,760 barrels of oil equivalent per day from 34 wells. Net daily projected January volumes are expected to be 185 barrels of oil, 14 barrels of natural gas liquids and 71 thousand cubic feet of gas for a total of 207 barrels of oil equivalent per day. Projected net operating cash flow for January 2012 is $568,000.
The package includes an average 3.0% working interest / 2.3% net revenue interest across 17,916 gross / 16,662 net acres. The entire property is operated by Penn Virginia Corporation.
Total net reserves are 824 thousand barrels of oil equivalent (32% Proved Developed) – 94% of the reserves are liquids based.
The virtual data room is open. Bids are due March 14th. Closing is expected by April 17th.