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Production is projected to reach approximately 2,400 BOEPD (net) in 2017 based found on the current 1 rig development system. Projected net operating cash flow for June 2014 is approximately $1 MM. The package includes 4,136 gross / 3,759 web acres, most of that is held by production. Net Proved reserves are 3.612 million barrels of oil equivalent (BOE) with a PV-10 value of $45.5 million. Important horizontal drilling inventory includes 22 extra Cleveland, Granite Wash, and Douglas locations.
Corlena Oil Company II, LLC to Sell Horizontal Texas Panhandle Properties | Company Wire
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Corlena Oil Company II, LLC to Sell Horizontal Texas Panhandle Properties | Business Wire
The package involves 4,136 gross / 3,759 net acres, almost all of that is held by manufacturing. Net Proved reserves are 3.612 million barrels of oil equivalent (BOE) with a PV-10 value of $45.5 million. Significant horizontal drilling stock involves 22 more Cleveland, Granite Wash, and Douglas places. The online data space real estate opened April 15 and bodily information room is available starting April 21.