QEP Resources Inc. (NYSE: QEP) aims to continue its divestitures in Wyoming with an auction for about 26,000 net HBP leasehold acres handled by advisory firm EnergyNet.
QEP’s offering also includes nonoperated working, royalty and overriding royalty interest (ORRI) in 240 wells plus mineral acreage throughout the Moxa Arch in Lincoln, Sweetwater and Uinta counties, Wyo. The auction begins Nov. 8 and closes Nov. 15.
Highlights:
- Nonoperated working interest in 200 wells (32 dually completed);
- 0.00423% to 85.4423% working interest / 0.003452% to 66.362296% net revenue interest;
- Nonoperated working interest (after payout) in 14 wells currently in before payout status;
- 0.732422% to 1.464844% ORRI in two wells (before payout);
- 0% working interest in 12 wells (before payout);
- 0.7812% to 2.9299% ORRI in 23 wells (11 dually completed);
- 6.98972% royalty interest in three producing wells;
- 12-month average net income of $72,881 per month;
- Six-month average 8/8ths production of 12.949 million cubic feet per day and 112 barrels of oil per day (last few months production may not be complete);
- 38,135 gross (25,797 net) HBP leasehold acres; and
- 431.51 net mineral 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 Ryan Dobbs, vice president of business development with EnergyNet at 303-500-3063.
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