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Kirkpatrick Puts Oily HZ Eagle Ford, Pearsall Assets on the Market

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Kirkpatrick Puts Oily HZ Eagle Ford, Pearsall Assets on the Market

Kirkpatrick Oil & Gas LLC has retained E-Spectrum Advisors LLC to sell its non-operated, horizontal Eagle Ford and Pearsall Shale properties in La Salle and Frio Counties, Texas.

The properties provide exposure to one of the premier oil resource plays in the U.S.

Kirkpatrick’s ownership includes 41 producing wells, operated by Cheyenne Petroleum Company, making approximately 6,000 gross / 135 net BOE per day, and nine wells in various stages of drilling and completion. In addition, nine locations are permitted for drilling. Kirkpatrick holds a ~3% working interest and the typical lease delivers a 77% NRI. The properties hold 11,281 gross / 338 net acres of leasehold.

Reserve highlights include net proved reserves of 1.18 MMBOE (88% oil / liquids) with a PV-10 of $15.9MM as of 6/1/13 based…

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