TULSA, . – January 29, 2010 – On Friday, February 5th, National Commercial Auctioneers, () will be conducting a Bankruptcy auction of multiple Oil & Gas Leases covering over 2,000 acres located in Creek, Wagoner, Tulsa, Muskogee, and Okmulgee Counties in Oklahoma.
“These are valuable leases with significant upside potential. If you want to invest in the future of Oklahoma oil, you need to buy these leases,” comments Stephen Karbelk, , , President and Auctioneer for the event. “Since we first announced this sale, we have created a separate package of leases known as the Henry Leases covering 240+/- acres in Tulsa County.”
“The Henry Leases have some significant upside potential,” says Stephen Rowe, President of Stephen Rowe Oil Properties and Bobby Rowe Energy, Inc., Debtors-In-Possession. “For instance, the East Henry lease has a history of 5 barrels a day production and the Wiser Henry lease has traditionally produced 2 barrels a day. With a new water pump and other minor reinvestment, the production could get back to full production.”
The auction will be held in the courtroom of the US Bankruptcy Court in Okmulgee, OK. The auction will include 6 oil lease packages along with surplus oil field equipment, including a Single-Pole Well Pulling Unit that is fully equipped wand capable of operating to depths of 3,600 feet, multiple Pumping Units sizes 60 – 80, Road Grader, Slickline Well Bailer “Balanced Oil Recovery Unit”, 1980 Vacuum Truck & Pump, Huff and Puff Air Injection Pump, Two Wheel Vehicle Hauler
with multiple lots of casings and tubing.
Inspections of the assets start on Monday, February 1st for well site inspections. The well files and surplus equipment will be available starting Tuesday, February 2nd. To obtain the bidding procedures and the available Property Information Package and Title Records, prospective buyers should contact National Commercial Auctioneers at 877-897-7077 or visit their website at www.natcomauctions.com.
National Commercial Auctioneers, is a nationwide real estate auction company that specializes in the sale of commercial real estate at auction for bankers, receivers and bankruptcy courts. Established in December 2008, N.C.A. is one of the fastest growing real estate auction companies in the country. With its corporate marketing office in Tulsa, OK, N.C.A. has Offices in Oklahoma, the Carolinas, Florida, Kansas, the Mid-Atlantic, Texas and Virginia. For more information,
please visit www.natcomauctions.com or call 877-895-7077.