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Lea County, Trinity Field Assets Being Marketed by Riviera Energy…
Staff Report – Midland Reporter-Telegram – 04/12/2004

Riviera Energy Corporation, a Midland, Texas based oil & gas transaction advisory firm, has been exclusively retained by NorthStar Operating Company, Discovery Exploration, and various working interest partners to divest of their interest in the Trinity Field located in Lea county, New Mexico approximately fourteen miles west of the City of Tatum.

The sale consists of Operated and Non-Operated interest in various properties. There are (2) Operated wells in the package producing 397 BOPD and 713 MCFPD from the Wolfcamp formation at 6,100′. NorthStar Operating and Discovery Exploration et al are offering for sale a 93.75% Working Interest with an 82.5%, 8/8ths NRI. Net Operating income from the operated wells averages an estimated $400,000 per month.

The working interest partners are selling its (8% to 12.5%) non-operated working interest on (9) producing wells in the Trinity Field. All (9) wells are operated by Chesapeake and produce 700 BOPD and 1,300 MCFPD (8/8ths) from the Wolfcamp formation. The Net Income from the Non-Operated interests averages an estimated $70,000 per month.

The properties have significant secondary recovery potential as wells as development potential in the Devonian formation identified at 12,000 ft. The sellers are selling all depth and rights associated with ownership.

The complete package for sale will offer combined (8/8ths) production of approximately 1097 BOPD and 2.13 MMCFD with a NET income being offered for sale of approximately $470,000.00 per month.


Riviera Energy Corporation, a Midland, Texas based oil & gas transaction advisory firm, has been exclusively retained by Discovery Operating, Inc…
Staff Report – Midland Reporter-Telegram – 3/04

Riviera Energy Corporation has been exclusively retained by Discovery Operating, Inc.

Riviera Energy Corporation, a Midland, Texas based oil & gas transaction advisory firm, has been exclusively retained by Discovery Operating, Inc. of Midland to divest it’s operated interest in the Witharral Field located in Hockley County, Texas approximately thirteen miles north east of the City of Levelland.

There are four leases in the package with a total land position of 640 acres. Each lease has one active pumping oil well. All leases are operated by Discovery. Working Interest for sale is 100% with an average NRI of 79%. Production is from the Lower Clearfork at 6,800′.

A third party engineering study done in February of 2003 identified Proved Undeveloped Reserves of 525 MBO through the drilling of (6) wells plus Proved Undeveloped Secondary Reserves of 875 MBO by initiating a co-operative waterflood. Adjacent properties have seen quick response to water injection into the Lower Clearfork. For more information please contact Riviera Energy Corporation at (432) 686-9400.


Sale of Andrews County Properties Completed by Riviera Energy…
Staff Report – Midland Reporter-Telegram – 3/14/04

RIVIERA ENERGY COMPLETES THE SALE OF ANDREWS COUNTY PROPERTIES.

RIVIERA ENERGY COMPLETES THE SALE OF ANDREWS COUNTY PROPERTIES. Riviera Energy Corporation, a Midland, Texas based oil & gas transaction advisory firm, announces the completion of the sale of ICA Energy Operating, Inc.’s Fullerton Field properties located in Andrews County, Texas approximately (12) miles NW of the City of Andrews.

There were (10) leases in the sale. Eight of the leases were operated by ICA and encompass over 1,361 acres. The operated working interest sold averages 92.6%. The net revenue interest to the 8/8ths averages 80.3%. The other (2) leases are small non-operated interests in offset properties. The non-operated working interest is 6.25% with an 8/8ths NRI of 75%.

There are (20) active pumping oil wells, (2) inactive wells and a complete disposal system on the operated leases. Current production is approximately 170 Bopd, 167 Mcfpd and 770 Bwpd. Net Operating Income averages $88,169 per month.

Production is from the San Andres at 4,400′, Upper Clearfork at 6,100′ and Lower Clearfork at 6,800′, in the Fullerton and Fullerton, Southeast Fields.

Thirteen PUD locations have been identified on the properties. The drilling is part of a development program to establish (40) acre (5) spot waterflood patterns.

The Lower Clearfork has been successfully flooded on adjacent properties the Fullerton Field. ICA’s properties are located just south of ExxonMobil’s Fullerton Clearfork Unit.


CrownQuest Operating LLC Has Retained Riviera Energy Corporation to Divest East Hobbs Unit…
Staff Report – Midland Reporter-Telegram 1/25/04


MyWestTexas.com home : news : oil & gas : oil & gas
CrownQuest divesting operated interest in East Hobbs San Andres Unit
Staff Report
Midland Reporter-Telegram 01/25/2004

CrownQuest Operating LLC, an affiliate of EnerQuest Resources LLC, has retained Riviera Energy Corporation to divest its operated interest in the East Hobbs San Andres Unit.

The East Hobbs San Andres Unit is located in Lea County, N.M. two miles east of Hobbs. CrownQuest’s interest includes 21 active pumping wells and a complete disposal system on the unit. Current production is approximately 275 barrels of oil, 370 Mcf and 1,800 barrels of water daily. The field is developed on 40-acre spacing and the unitized area encompasses 920 acres. Production is from the San Andres at an average depth of 4,500 feet with net pay averaging 146 feet.

Net operating income to the 100 percent working interest and 82.12 percent net royalty interest averages $148,693 monthly.

The field was unitized for the purpose of waterflooding. Effective date of the unit is February 1, 2004. Incremental reserves are estimated at 8.7 million barrels of oil and 1.820 Mmcfd for full-scale development of 40-acre five spots. In addition, eight 20-acre wells have been identified which are outside the scope of the waterflood development. Behind-the-pipe potential in the Queen-Penrose has also been identified.


ICA Energy Retains Riviera Energy Corporation of Midland…
Staff Report – Midland Reporter-Telegram – 12/03

ICA retains Riviera to sell Permian Basin assets.

Riviera Energy Corp. (Midland, TX) has been retained to sell certain oil and gas properties for ICA Energy Operating Inc. More specifically ICA is offering for sale all of its operated and non-operated interests in the Fullerton field in Andrews County 12 miles northwest of Andrews. The package consists of 10 leases (eight operated). The operated WI averages 80% (ranges from 53% to 100%). Net revenue interest to the 8/8ths averages 84% (ranges from 76% to 86.9%). The remaining two leases in the package are small non-operated interests in offset properties. The non-operated WI is 6.25% with an 8/8ths NRI of 75%.

The Package offers 20 active pumping oil wells, two inactive wells and a complete disposal system on the operated leases, with current production of ~170 BOPD, 167 MCFD and 770 BWPD.

Production is from the San Andres (4,400 ft.) Upper Clearfork (6,100 ft.) and Lower Clearfork (6,800 ft.) in the Fullerton and Fullerton Southeast fields. The Lower Clearfork has been successfully flooded on properties adjacent to the Fullerton field. ICA’s properties are just south of ExxonMobil’s Fullerton Clearfork unit.


Riviera Energy Corporation of Midland has completed the sale….
Staff Report – Midland Reporter-Telegram – 11/9/03
This $29 million dollar transaction was completed in 61 days from the date of listing contract!

 
Permian Basin sees active acquisition, divestiture market
Mella McEwen – Midland Reporter Telegram – 09/21/03

Permian Basin oil and gas operators are seeing quite a few properties coming up for bid as majors and independents alike adjust their portfolios.

“Oil and gas packages are bringing in premium prices,” observed Larry Oldham, president of Parallel Petroleum. “I don’t know if it’s a sign the market is getting frothy, but we’re amazed at some of the prices packages are bringing.”

Oldham continued, “We think there will be a lot of assets coming available here in the Permian Basin.”

Midland-based Riviera Energy Corporation specializes in facilitating the acquisition and divestiture of properties and Jeff Longbotham, company president, pointed out that he and Monty Fields, vice president, engineering, have more than 30 years acquisition and divestiture experience between them. Since his first sale in 1993, Longbotham said Riviera has accumulated over $550 million in documented property sales.

Right now, Longbotham said, “We have a unique property being offered.”

The company is working with Midland-based Triumph Exploration to sell its working interest in the Jed Clampett leases in the Means (San Andres) field in Andrews County.


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(432) 686-9400 voice
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Info@RivieraEnergy.com


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