QEP Resources Inc. (NYSE: QEP) aims to continue its divestitures in Wyoming—an area where the Denver-based company has completed roughly $778 million in asset sales so far this year—with an auction handled by EnergyNet.
Bidding is now open for QEP’s interest—operated and nonoperated—in nearly 70 wells plus about 37,000 gross (19,000 net) HBP leasehold acres throughout the Central Western Overthrust and Green River basins in Lincoln, Sweetwater and Uinta counties, Wyo. The auction closes 3 p.m. CT Oct. 18.
Highlights:
- Operated working interest in 67 wells (14 dually completed);
- 65 producing and two shut-in wells;
- 11.271490% to 100% working interest and 10.563013% to 85% net revenue interest;
- 2.31255% overriding royalty interest (ORRI) in one well;
- Nonoperated working interest in two wells;
- 31.06% to 45.25112% working interest and 24.10256% to 37.3322% net revenue interest;
- ORRI in 44 wells;
- 42 producing and two shut-in wells;
- 0.054609% to 3.625% ORRI
- 12-month average net income of $176,592 per month
- Six-month average 8/8ths production of 5.483 million cubic feet per day and 57 barrels of oil per day; and
- HBP leasehold of 36,944 gross (18,935 net) acres.
In September, QEP closed the $740 million sale of its assets in the Pinedale Anticline Field in Sublette County, Wyo., to an Oak Ridge Natural Resources LLC affiliate. Additionally, the company said in June it sold natural gas assets in southern Wyoming to an undisclosed buyer for $37.5 million.
For information on QEP’s auction visit energynet.com or contact EnergyNet’s Denna Arias at 281-949-8463.
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