OFFSHORE PLATFORM & PIPELINE SALE
Midstream Properties
All Standard Disclaimers Apply & Seller Rights Retained
MUSTANG ISLAND BLOCK 818
1-Platform. 1-Wellbore. 1-Re-Entry
STACKED THICK MULTI PAY
Platform “I” (Monopod) – Shallow Water
4” Flowline to “A” Platform
~1,800 Ft Subsea Tie-In
Separation & Sales at “A”
Connected to 20” Trunk Line
Pig Launcher at “A” to Onshore Sales
Infrastructure in Place. Low-Cost Re-Entry
Re-Entry Cost: $4,600,000
6.0-7.0 Bcf Gas & 84-140 MBbl Condensate
15 MMCFD & 1,000 BOPD Capacity
DOCUSIGN TO ACCESS DATAROOM NOW
G 3019DV
Summary
Energy Advisors Group has been retained jointly by Mustang Gathering, LLC and Cryptic Petroleum, Inc. to market an integrated Gulf of America platform and intrastate pipeline package at Mustang Island Block 818-L . The Sale combines Platform "I" — a 3-slot monopod tripod refabricated by Laredo Construction in Q4-2011 in 57' of Texas state waters — with a 15.10-mile 20" intrastate gas trunk (hydrotested at 1,800 psig), a 4" flowline from Platform "I" to "A", and the 6-Pigs onshore terminus on North Padre Island delivering gas to HPL/Enterprise under Master Gas Purchase Agreement C0713388 and condensate to Shell Trading — all fully assignable.
The single active wellbore (I-1, API 42-273-30114994) is shut-in with a frac-packed I-5 completion and 8 behind-pipe Huddleston pay zones; last stabilized rate was 700 Mcf/d + 150 Bopd (January 2013). Independent reservoir reports from Huddleston & Co. (2010) and RPS Energy / Silvermere (2011) support 3P reserves of 91.1 Bscf gas + 9.1 MMbbl oil/condensate and NPV-10 of up to $94.4 MM on the Silvermere working interest.
A documented 2010 development plan provides for a ~$4.6 MM all-in I-1 well re-entry unlocking 7 behind-pipe sand targets (A-1, A-13/15, B-20, B-23, G-1/3, I-6); the bidder selects the recompletion sequence, and one successful stage moves Huddleston Probable to Proved. Texas state-waters jurisdiction means no BOEM/BSEE involvement — a single P-5/P-4 transfer plus GLO consent clears regulatory in 60–90 days, with first sales targeted within 6–9 months of close. Both assets are marketed together for a single qualified buyer who controls the full wellhead-to-HPL value chain and eliminates midstream counterparty risk.
TO LEARN MORE:
Christian Jones
Director – A&D, Houston
Phone: (713)-857-1213
Email: [email protected]
Energy Advisors Group
4265 San Felipe Street, Suite 650
Houston, TX 77027
Phone: (713) 600-0123
MUSTANG ISLAND BLOCK 818
1-Platform. 1-Wellbore. 1-Re-Entry
STACKED THICK MULTI PAY
Platform “I” (Monopod) – Shallow Water
4” Flowline to “A” Platform
~1,800 Ft Subsea Tie-In
Separation & Sales at “A”
Connected to 20” Trunk Line
Pig Launcher at “A” to Onshore Sales
Infrastructure in Place. Low-Cost Re-Entry
Re-Entry Cost: $4,600,000
6.0-7.0 Bcf Gas & 84-140 MBbl Condensate
15 MMCFD & 1,000 BOPD Capacity
DOCUSIGN TO ACCESS DATAROOM NOW
G 3019DV
Summary
Energy Advisors Group has been retained jointly by Mustang Gathering, LLC and Cryptic Petroleum, Inc. to market an integrated Gulf of America platform and intrastate pipeline package at Mustang Island Block 818-L . The Sale combines Platform "I" — a 3-slot monopod tripod refabricated by Laredo Construction in Q4-2011 in 57' of Texas state waters — with a 15.10-mile 20" intrastate gas trunk (hydrotested at 1,800 psig), a 4" flowline from Platform "I" to "A", and the 6-Pigs onshore terminus on North Padre Island delivering gas to HPL/Enterprise under Master Gas Purchase Agreement C0713388 and condensate to Shell Trading — all fully assignable.
The single active wellbore (I-1, API 42-273-30114994) is shut-in with a frac-packed I-5 completion and 8 behind-pipe Huddleston pay zones; last stabilized rate was 700 Mcf/d + 150 Bopd (January 2013). Independent reservoir reports from Huddleston & Co. (2010) and RPS Energy / Silvermere (2011) support 3P reserves of 91.1 Bscf gas + 9.1 MMbbl oil/condensate and NPV-10 of up to $94.4 MM on the Silvermere working interest.
A documented 2010 development plan provides for a ~$4.6 MM all-in I-1 well re-entry unlocking 7 behind-pipe sand targets (A-1, A-13/15, B-20, B-23, G-1/3, I-6); the bidder selects the recompletion sequence, and one successful stage moves Huddleston Probable to Proved. Texas state-waters jurisdiction means no BOEM/BSEE involvement — a single P-5/P-4 transfer plus GLO consent clears regulatory in 60–90 days, with first sales targeted within 6–9 months of close. Both assets are marketed together for a single qualified buyer who controls the full wellhead-to-HPL value chain and eliminates midstream counterparty risk.
TO LEARN MORE:
Christian Jones
Director – A&D, Houston
Phone: (713)-857-1213
Email: [email protected]
Energy Advisors Group
4265 San Felipe Street, Suite 650
Houston, TX 77027
Phone: (713) 600-0123