Corlena Oil II to sell Granite Wash properties

Corlena Oil Co. II LLC has retained E-Spectrum Advisors LLC to sell its properties targeting the Granite Wash play in Roberts County, Texas. The properties are 100% operated and include eight producing wells, two of which are horizontal.

Average trailing 12-month production ending April was 463 BOEPD. The package includes 540 gross/net acres, all of which are held by production.

Net proved reserves are 1,884 million barrels of oil equivalent with a PV-10 value of $23.3 million. Retained acreage depths include from the top of the Kansas City formation to the top of the Morrow formation.

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