Royal Dutch Shell Plc (NYSE: RDS.A) is selling overriding royalty interest in 17 leases in the Gulf of Mexico (GoM).
The assets have an estimated 10-year revenue stream of $450 million, according to EnergyNet, which is handling the transaction for Shell. Areas consist of Ewing Bank, Garden Banks, Green Canyon, Main Pass Area, Mississippi Canyon and Walker Ridge.
Read More About Shell's Recent $425 Million Divestment In The Gulf
Highlights:
- 17 leases across nine total properties;
- 13 producing and receiving revenue (Including Mad Dog Field operated by BP Plc);
- Three recently producing with first check received July (Julia Field operated by ExxonMobil Corp.);
- One nonproducing (Sheba Field);
- Current average historical production is 54,000 barrels per day (bbl/d) of oil and 29,000 thousand cubic feet per day (Mcf/d);
- 10-year estimated revenue stream of about $450 million;
- 15-year estimated revenue stream of about $750 million;
- Estimates are based on Wood Mackenzie’s forecast and are net to Shell’s interest, EnergyNet said;
- Total 2015 revenue is about $14 million;
- 12 total payors; and
- Operators include: Anadarko Petroleum Corp. (NYSE: APC); BP Plc (NYSE: BP); ExxonMobil (NYSE: XOM); Deep Gulf Energy Cos.; Eni US Operating Co. Inc.; Enven Energy Ventures LLC; Lobo Operating Inc. (Saratoga Resources Inc.); Marubeni Oil & Gas USA Inc.; and Marathon Oil Corp. (NYSE: MRO).
Sealed-bids are due by 4 p.m. CT Sept. 22. For information visit energynet.com or contact EnergyNet's Cody Felton at 281-221-3042.
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