Burks Oil & Gas Properties, Inc.
Houston, Texas, United States
Burks Oil & Gas Properties, Inc.
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Acquisition & Divestiture Services
About Burks Oil & Gas Properties, Inc.
Burks Oil & Gas Properties, Inc. is owned and managed by three petroleum engineers closely associated with a large number of independent oil and gas producers.
Here is some general information on our company and the manner in which we assist in the evaluation and marketing of producing properties. Since we work with various independents, and some major oil companies, and have been instrumental in concluding nearly $2 billion of property closings, we hope to have a mutually beneficial business relationship with you.
Some Background
After trying unsuccessfully to find acquisitions on a consulting basis for a large independent, Don Burks entered the business in 1988 and began compiling data packages on "closable" properties for reasonable sellers in a form that he would like to have seen when he evaluated potential acquisitions.
Our specialty is the Louisiana and Texas Gulf Coast and the Gulf of Mexico. Some of the properties may be in canals or inland bays or marshes. Burks represents properties only on an exclusive basis and transactions are either negotiated sales or competitive bids.
We are continually working on new property packages and know many of the properties we expect to handle in the next 12 months.
Our Clients
Most sellers have been successful independents. Most purchasers have been utility or pipeline-related companies or large independents. Burks often works with the sellers months before they drill their high quality prospects and we are ready to start marketing their properties soon after they log pay. We work directly with prospective purchasers and their consultants to minimize interference with the sellers' other business. We assist prospective purchasers through their evaluation process and through due diligence and closing. The intent of most sellers is to turn over their money quickly and drill more opportunities. Sellers and buyers are not naive and closings are generally fair to both sides.
We appreciate your consideration and are looking forward to showing you our available properties. If you are interested in additional information, please contact us.
Description of Services
Available Properties
There are currently 1 properties available:
- Point au Fer Island - Offering of Oil, Gas, and Mineral Leases on More Than 46,000 Acres, 3-D Seismic Is Available
We are working on other high quality producing property divestments in the Gulf Coast area. Although our data packages are not complete on these fields, we will be glad to discuss them with you.
Point Au Fer, LLC and the Catholic Church of the Archdiocese of New Orleans are requesting proposals for options to acquire oil, gas, and minerals leases on Point au Fer Island, Terrebonne Parish, south Louisiana.
Significant Acquisition Attributes of oil and gas leases on Point au Fer Island:
- Up to 47,176 acres less 916 acres currently held by production are available for lease.
- The working interest available for acquisition is 100% with a net revenue interest of 72%.
- Wells can be drilled using barge-type drilling rigs.
- A 3-D seismic shoot was conducted in 2014 over this area and it is available for licensing.
- Houston-based BRT Energy Advisors, LLC, brtenergy.com has identified a 12,500’ TVD normal-pressured, multi-target, drilling opportunity, the REGENT Prospect, that is estimated to have a hydrocarbon mid-range potential of 22.8 BCF and 1,026,000 barrels of condensate. 1,300 acres would probably need to be leased.
- The REGENT Prospect also has deeper hydrocarbon opportunities to 13,500’ TVD. Intermediate casing would be needed. The additional mid-range hydrocarbon potential is estimated to be 12.2 BCF and 182,575 barrels of condensate. 1,900 acres would probably need to be leased.
- Based on its interpretation of the seismic, Castex Energy, Inc. has drilled and completed its successful Point Au Fer LLC #1 gas well on August 4, 2022.
- The Castex completion report for its new well filed with the Louisiana Department of Conservation on August 9, 2022, was reported as: 3,060 MCFD; 216 BCPD; 3,675 psi FTP; 13.5/64 CK; 14,167 GOR; 53.9 GRVTY; PERFS 13,822’-13,837’.
- Castex has made a second significant discovery (the AO391 #1 well) inside the 3-D seismic survey, immediately to the east of PAF Island.
- Exxon has announced a deal to inject CO2 at Pecan Island about 70 miles west of PAF Island.
- The mineral owners have indicated interest in making their lands available for Carbon Capture and Storage (CCUS) operations.
What we do
We know of no other company involved with oil and gas field acquisitions and divestitures that does what we do in our review and packaging of properties.
We always show the properties in a complete, concise, properly organized, and user-friendly data package. We want prospective purchasers to be able to determine their preliminary level of interest in a property without investing a considerable amount of time and effort and conducting a lot of outside data gathering.
We will…
- Assist the prospective purchasers as they review the data package;
- Obtain and provide any additional information which they feel they need;
- Assist in coordinating visits with the Sellers;
- And stay available through the due diligence and closing process.
The Divestment Process
As part of the divestment process, we gather appropriate data and information, evaluate sale properties for their potential, and assist in their sale. Burks doesn't work simply in the capacity of a "finder," a "facilitator," or an "advisor" but prepares comprehensive, detailed, meticulous, engineering and geological data packages with extensive associated economics. We perform buyer-friendly data-room presentations in our offices as part of the process.
Time is valuable to all and our objective is to avoid wasting the time of any seller or any potential purchaser.
Experience
We have worked on quite a number of producing properties over the last ten years and have been responsible for matching nearly all of these fields with successful Buyers. Don Burks and Richard Klauzinski have worked together off and on throughout their 56 years of industry experience. Scott Byrnes (former Reservoir Engineering & Development Manager for AGIP Petroleum) joined the team in 1994.
Prospective Purchasers
We will give you a comprehensive engineering, geological, and financial data package for each property. Our unique data packages contain extensive collections of pre-copied information on each well along with reserve estimates (well supported by maps, logs, cores, production histories, etc.) and cash-flow projections for each reservoir. A single data package may be several three-ring binders in size. We will try to obtain any additional information or data you request.
We will try not to waste your time on properties that are not "closable." We screen anticipated sale price versus market value and work with reasonable and responsive Sellers. We typically arrange private negotiated sales without competitive bidding. The number of our data-room presentations to prospective purchasers is limited.
Your company will be able to conduct a preliminary evaluation with minimal time and effort. You will not be scrambling around looking for sufficient information to decide if you even have a preliminary level of interest in pursuing a potential acquisition (as is the case in many property evaluations). We will assist you during the due-diligence phase of your final evaluation in any way we can. We will also run economic scenarios at any pricing or expense assumptions you request.
Prospective Sellers
We will do virtually all of the work including evaluation, packaging, and marketing. We will come to your offices and collect and copy the pertinent materials. We will conduct a timely, complete, and independent evaluation of each producing property. We will find and point out the upside potential of each field. We will provide recommendations that will make the value of your properties more apparent.
We will screen and qualify prospective purchasers. Your data will be protected by a strong confidentiality agreement signed by every prospective purchaser. You will not have to deal with any prospective purchaser until a suitable offer is in the making.
You are never obligated to sell; you make the final decision after you have received one or more offers that are acceptable to you.
Our Promise
We work hard to help each prospective buyer and seller reach a point where a transaction is attractive to both sides. We do not consult or charge by the hour except on rare occasions. We simply earn a nominal fee for our services. This fee is paid by the seller if a closing occurs.
