Apache Corp. (NYSE: APA) is selling operated Delaware Basin properties in Pecos and Reeves counties in West Texas.
The assets include production from the Third Bone Spring and Wolfcamp formations. The Oil & Gas Asset Clearinghouse has been retained by the Houston company as its exclusive technical, marketing and transaction adviser for the sale.
Highlights:
- About 4,276 net acres;
- 2,445 net acres HBP;
- Six producing wells;
- Gross production in July was about 140 barrels per day of oil and 105 thousand cubic feet per day;
- 100% working interest;
- 75%-77% net revenue interest;
- Producing horizons include Third Bone Spring and Wolfcamp;
- Primary term on remaining leases
- About 160 active drilling permits in the area.
Bids are due Sept. 14. The sale is expected to have an Oct. 1 effective date.
For information visit ogclearinghouse.com or contact Denna Arias, vice president of business development for Clearinghouse, at 832-601-7605.
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