Oasis Petroleum Inc. (NYSE: OAS) is offering Williston Basin producing properties in a sales process handled by Meagher Energy Advisors.
The offer is described as a consolidated HBP acreage position covering nearly 17,900 net acres in North Dakota and Montana, excluding Bakken/Three Forks rights, Meagher said. Additionally, the sale includes shallow decline production primarily from the Madison Formation.
- 594 barrels of oil equivalent per day (more than 90% oil) net production forecasted in October, primarily from the Madison Formation;
- $303,000 projected October cash flow;
- 49 operated and 15 nonoperated producing wells;
- Long life proved developed producing reserves due to less than 8% annual decline;
- Consolidated acreage consisting of 17,893 net acres excluding Bakken/Three Forks rights;
- All acreage HBP with many tracts also held by Bakken production;
- Net revenue interests greater than 85% on 15,000 acres; and
- Includes two saltwater disposal wells and associated systems.
Upside opportunities include 22 identified potential recompletions, according to Meagher.