Dart Oil & Gas Corp. is offering Cherokee Basin producing properties in Kansas through a sale handled by Meagher Energy Advisors.
The properties consist of a large, contiguous, HBP acreage position covering more than 90,000 net acres in Montgomery and Wilson counties, Kan. The offer also includes steady cash flow and shallow-decline production, according to Meagher.
Highlights:
- Projected February cash flow of $368,300;
- Net production of 7.33 million cubic feet equivalent per day;
- 574 producing wells operated by Dart;
- 21.6 billion cubic feet and 22,900 barrels net remaining proved developed producing reserves;
- Gathering and processing infrastructure included;
- 90,256 consolidated net acres;
- 85% average net revenue interest;
- No federal or state acreage;
- Upside identified in several horizons, including Mississippian Limestone;
- About $40,000 per month revenue from third-party gas; and
- Downspacing opportunities across leasehold, Meagher said.
Bids are due by March 9. The sale is expected to close April 14 with an effective date of Feb. 1.
For information visit meagheradvisors.com or contact Nick Asher, vice president of business development for Meagher, at 303-721-6354.
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