Indigo to Sell Austin Chalk acreage. w/ 500 drilling locations
http://www.researchviews.com/energy/oil-gas/exploration-production/...
Indigo II Louisiana Operating Plans To Sell Oil And Gas Assets In Louisiana
The assets consist of contiguous lease position of 110,000 net acres, of which approximately 30,000 net acres are held by production and remaining 80,000 net acres are undeveloped. The assets have production of approximately 335 barrels of oil per day (boe/d) from 10 operated and 47 non-operated wells.
The additional features include over 500 identified drilling locations with estimated ultimate recovery (EURs) ranging from 320 to 600 Mboe per well.
BMO Capital Markets has been retained as exclusive financial advisor by Indigo for the divestment of its assets. The data room will open in late June 2012, and the final offer is due in late July 2012.
Tags: austin, chalk, rapides, vernon
Views: 728
Replies to This Discussion
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Permalink Reply by blackjackjackson on
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do you have any map of this deal? or do you know where we can get this map?
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Permalink Reply by Joe Aldridge on -
How in the world do you HBP 80,000 acres with only 335 barrels of production? Something does not seem right here. Looks like a deal for mullets.
Jay, Its my understanding that with the premium on AC oil we are still at $100.00 per barrel. I still don't think these operators know what they are doing when they drill, complete and stimulate AC. That's my two bits worth.
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Permalink Reply by Keith on
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Joe, I too was curious about the drilling and completion techniques used by current players in the chalk.
Think about it this way. Why wouldn't they be using some of the proven techniques used in past chalk plays? I know that the oilfield often has people that don't learn from the past, but heck you would think they would have made a good attempt.
If I proven chalk driller snatches this up that could be a sign that just maybe they didn't use the proper technology and processes for drilling in a chalk play.
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Permalink Reply by Dion Warr, CPL on -
Joe:
If the operators of Indigo were to be in possession of leases bearing a large percentage of ROM minerals, it would not be a stretch for such agreements to be held by minimal terms or by a contractually acceptable exploration and development program (Indigo's holdings include large amounts of ROM mineral properties and leasehold assets). Also, even in a more "arms-length" transaction amongst an E&P company and an institutional landowner, exploration agreements and developmental leases involving large blocks of land can be had provided that diligent pursuit of exploration and development are met.
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Permalink Reply by DrWAVeSport Cd1 on
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