BP Plc, BP America Production Co, EnergyNet, sale, marketed, offering, oil, natural gas, Arkoma Basin Oklahoma, 266 wells, operations, Coal, Haskell, Hughes, Latimer, Le Flore, McIntosh, Pittsburg, Sequoyah, Atoka, Booch, Brazil, Cromwell, Harthshorn, Pan

BP Plc (NYSE: BP) is selling operations in about 266 wells in Oklahoma’s Arkoma Basin in a sealed-bid offering.

The assets are located in Coal, Haskell, Hughes, Latimer, Le Flore, McIntosh, Pittsburg and Sequoyah counties in Oklahoma. EnergyNet has been retained by the London company’s subsidiary, BP America Production Co., to handle the sale.

Highlights:

  • Operations in about 266 wells (wellbore only);
    • About 143 producing;
    • About 123 non-producing;
  • Six-month average 8/8ths production is 3,661 thousand cubic feet per day;
  • Nine-month average net income of $62,182 per month;
  • Ability to recomplete in any uphole zones that seller can assign such right, according to EnergyNet;
  • Stacked-pay basin with proven behind-pipe zones;
    • Proven formations include Atoka, Booch, Brazil, Cromwell, Harthshorn, Panola, Spiro and Wapanucka; and
  • Lifting cost reduction potential, as well as lift optimization, EnergyNet said.

Offers are due by 4 p.m. CT Sept. 15. For due diligence information visit energynet.com or contact EnergyNet’s Cody Felton at 281-221-3042.