Apache Corp. (NYSE: APA) is selling a leasehold position in Oklahoma with Mississippian/Woodford potential through a sealed-bid offering handled by EnergyNet.
The offer comprises a position covering about 7,000 gross (1,880 net) acres located in Grady County, Okla.
Highlights:
- 7,012.28 gross (1,881.25817 net) leasehold acres;
- Delivering a 75% to 81.25% net revenue interest;
- Leases with a May 2017 expiration date were extended two years; and
- Possible target formations include the Mississippian, Morrow, Springer and Woodford.
Offset activity comprises 71 active area permits (62 horizontal). Select area operators include Chaparral Energy LLC, Chesapeake Operating Inc., Continental Resources Inc. (NYSE: CLR), Linn Operating Inc., Sanguine Gas Exploration LLC, Unit Petroleum Co. and Western Oil & Gas Development Corp.
Bids are due by 4 p.m. CT June 30 and can be emailed to Cody Felton, EnergyNet vice president of business development. For information visit energynet.com or contact EnergyNet's Denna Arias at 281-949-8463.
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