Galveston Bay
Energy, LLC
GBE
Galveston Bay Energy, LLC.
Galveston Bay Energy, LLC.("GBE") is a wholly owned subsidiary of Hydrocarb Energy Corporation which is currently operating under Chapter 7 bankruptcy protection as Case No. 16-31922 in U.S. Bankruptcy Court - Southern District of Texas, Houston Division.
GBE owns and operates over 120 wells in four fields on Texas State Leases in Galveston Bay. The four fields- Trinity Bay, Fishers Reef, Red Fish Reef, and North Point Bolivar comprise over 19,000 acres and have produced over 1.5 trillion cubic feet of gas and 100 million barrels of oil since the 1960's. These wells were producing approximately 400 bbls of oil (equiv.) in 2015 and were shut in as the company entered bankruptcy protection. GBE has been funded in the Chapter 7 to restore production and sell the properties in an auction process to be completed by September 20th, 2016. A data room has been created to provide sufficient information to prospective bidders.
Galveston Bay Energy, LLC.
Steven McGuire, Project Manager: ssm77381@gmail.com
Galveston Bay Energy, LLC Properties.
Trinity Bay
-9,306 Acres
-500 BCFE Cum. Production
-49 Wells, 9 producing
-27 Productive Miocene and Frio sands
Fishers Reef
-6,045 Acres
-400 BCFE Cum. Production
-26 Wells, 4 producing
-20 Miocene and Frio Sands 3,000'-10,000'
Red Fish Reef
-3,440 Acres
-1,000 BCFE Cum. Production
-45 Wells, 4 producing
-27 Frio Sands from 3,000'-12,000'
North Point Bolivar
-640 Acres
-7 Wells, 1 producing
-27 Productive Miocene and Frio Sands