DALLAS--(BUSINESS WIRE)--Raptor Petroleum II, LLC has retained E-Spectrum Advisors LLC to sell their properties targeting the Mississippian in Borden, Garza, Kent, Nolan and Scurry Counties, Texas. The properties are 100% operated and include five horizontal producing wells and six saltwater disposal wells.
Recent production was 240 BOEPD with production projected to reach approximately 1,373 BOEPD (net) in 2015 based on a two-rig development program. Projected net operating cash flow for September 2014 is approximately $535,000. The package includes 53,464 gross / 44,798 net acres delivering all depths and all rights in most areas with sizable, contiguous lease blocks that can be extended with continuous drilling.
Net Proved reserves are 1.755 million barrels of oil equivalent (BOE) with a PV-10 value of $18.0 million. Horizontal drilling inventory includes eight PUD locations with numerous unquantified drilling opportunities coupled with low-cost operational enhancement opportunities.
The online data room opens August 28 and physical data rooms will be available starting September 1. Bids are due Wednesday, October 1.