HRM Resources II LLC is selling Green River Basin assets in Colorado in a sealed-bid offering handled by EnergyNet.
The offer comprises operated and nonoperated working interest plus royalty and overriding royalty interests in 33 wells and 22,200 gross (15,124 net) acres located in Moffat County, Colo.
Highlights:
- Operations in 29 wells;
- 81.25%-100% working interest and 61.25%-85.15625% net revenue interest (before payout);
- 21 active producers and one active injector;
- Five shut-in and two plugged and abandoned wells;
- 0.1875%-5% additional overriding royalty interest in six wells;
- 0.186012%-3.081006% additional royalty interest in six wells;
- Nonoperated working interest in two wells;
- 15.86262% and 30% working interest and 13.87979% and 22.95% net revenue interest;
- One active producer and one shut-in well;
- Operators include EOG Resources Inc. (NYSE: EOG) and Matrix Production;
- Two producing wells with only royalty and overriding royalty interests;
- 0.32816% royalty interest in the Alta Martin well;
- 0.44375% overriding royalty interest in the Smith 1 well;
- Operators include Merit Energy Co. and Robert L. Bayless Producer LLC;
- Six-month average 8/8ths production is 1.248 million cubic feet per day of gas and 2 barrels per day of oil;
- Nine-month average net income is $13,738 per month;
- 22,200 gross (15,124 net) acres;
- Includes 4,293 gross (1,698 net) mineral acres; and
- Leasehold acreage is 93% HBP.
The sale also includes Lewis and Niobrara horizontal development upside opportunities with at least 29 HRM-operated, one-mile horizontal wells, EnergyNet said.
Bids are due by 4 p.m. CT July 6 and can be emailed to Ryan Dobbs, EnergyNet vice president of business development. For information visit energynet.com or contact EnergyNet's Denna Arias at 281-949-8463.
Recommended Reading
Canadian Railway Companies Brace for Strike
2024-04-25 - A service disruption caused by a strike in May could delay freight deliveries of petrochemicals.
Enterprise’s SPOT Deepwater Port Struggles for Customers
2024-04-25 - Years of regulatory delays, a loss of commercial backers and slowing U.S. shale production has Enterprise Products Partners’ Sea Port Oil Terminal and rival projects without secured customers, energy industry executives say.
Report: Crescent Midstream Exploring $1.3B Sale
2024-04-23 - Sources say another company is considering $1.3B acquisition for Crescent Midstream’s facilities and pipelines focused on Louisiana and the Gulf of Mexico.
For Sale? Trans Mountain Pipeline Tentatively on the Market
2024-04-22 - Politics and tariffs may delay ownership transfer of the Trans Mountain Pipeline, which the Canadian government spent CA$34 billion to build.
Energy Transfer Announces Cash Distribution on Series I Units
2024-04-22 - Energy Transfer’s distribution will be payable May 15 to Series I unitholders of record by May 1.