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Vess Energy ropes in Energy Spectrum Advisors
1 June 2011: Vess Energy Ventures, LP has reportedly retained Energy Spectrum Advisors Inc. to sell certain Permian Basin and North Texas oil properties.
Recent net production is 325 barrels of oil equivalent per day (99 per cent oil) from the San Andres, Clear Fork, Wolfcamp, Wichita-Albany, Palo Pinto Lime, and Ellenburger reservoirs. Estimated net operating cash flow for July 2011 is expected to be approximately $6,65,000.
The package includes ownership in 85 producing wells with an average 96 per cent working interest (81 per cent net revenue interest) on 8,012 gross / 7,621 net acres (98 per cent HBP) in Scurry, Mitchell, Howard, and Wilbarger Counties, Texas.
Source: Business Wire