Auction Ohio has been contracted by Temple Oil and Gas to coordinate the offering of their Ohio assets. (108 wells and leases).
Our client prefers to sell the asset in its entirely, but will consider bids for 11 different offerings. Bids can be made for any individual offering as well as any combination of offerings or the whole.
For each area, an Asset Overview Summary which includes asset highlights, 2016 January to April average monthly production, net reserves (PDP) and associated PV10, and an overview map for each Area.
The following information is available electronically from Auction Ohio upon request:
o Well Spot Maps
o Individual plots of gross historical and forecasted volumes
o Summary plot of gross historical and forecasted volumes
o Monthly & annual volume forecast effective 07/2018
o Well Information Sheet (County, Well Name, API #, Well Status, Working Interest)
Sale Terms:
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Bid due no later than Friday, January 25th, 2019 5 PM EST
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Sale Closing Date: March 1st, 2019
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Volumes (oil and water) in tanks transfer to buyer as of the Effective Date. All volumes shipped and produced prior to Effective Date are owned by the Seller. At closing, to Seller’s Credit, final tank volumes will be gauged volumes down to oil draw line. Buyer and Seller will coordinate ending gauge reconciliation.
- For any or all of the properties, Seller reserves the right to sell prior to the bid due date, remove from market place, and/or reject any and all offers.
Successful Bidder:
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Successful Bidder will be required to deposit 10% of the bid price. Deposit will be applied to purchase price at closing.
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Assets will be sold on an “as is, where is” basis without warranty of any kind.
Due Diligence (To occur prior to submitting a bid):
- Seller to provide access to well files, title and lease information, geologic upside reports, and lease operating statements.
- Seller to provide access to the field operations and key personnel.
- Buyer, at its sole cost and expense, may elect to run title on any or all leases and wells during the due diligence period.
Auction Ohio has secured the information from Temple Oil and Gas. Although the information is believed to be correct, it is the purchaser’s sole responsibility to perform all due diligence including but not limited to: verifying the accuracy of the ownership and all information associated with the properties, office review of all well records, and a field review of all properties. Auction Ohio has not performed any field review of the assets.
Auction Ohio will seek to provide additional information as requested by interested parties. Should any additional information be required, please contact Auction Ohio by telephone or email.
Being marketed and auctioned by:
Chris Davis, Auctioneer/Realtor®
AO Real Estate, Realtors® & Auction Ohio
6555 Busch Boulevard, Suite 250
Columbus, OH 43229
Office: (614) 846-3302
chris@auctionohio.com
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