Corlena Oil Company II, LLC to Sell Granite Wash Properties

DALLAS--()--Corlena Oil Company II, LLC has retained E-Spectrum Advisors LLC to sell their properties targeting the Granite Wash play in Roberts County, Texas. The properties are 100% operated and include eight producing wells, two of which are horizontal.

Average trailing twelve month production ending April 2015 was 463 BOEPD (primarily oil and liquids rich natural gas). During that same period of time the properties' average net operating cash flow was $466,784 per month. The package includes 540 gross / net acres, all of which is held by production.

Net Proved Reserves are 1,884 million barrels of oil equivalent (BOE) with a PV-10 value of $23.3 million. Retained acreage depths include from the top of the Kansas City formation to the top of the Morrow formation.

The online data room opens Tuesday, July 14. Bids are due Thursday, August 13.

Contacts

E-Spectrum Advisors LLC
Will Hundley, 214-987-6153
will.hundley@energyspectrum.com

Contacts

E-Spectrum Advisors LLC
Will Hundley, 214-987-6153
will.hundley@energyspectrum.com