The following information is provided by EnergyNet. All inquiries on the following listings should be directed to EnergyNet. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
EP Energy E&P Co. LP retained EnergyNet for the sale of its nonop stake in Utah assets within the Uinta Basin through an auction.
The offer comprises nonoperated working interest and overriding royalty interest (ORRI) in 16 wells plus HBP leasehold covering 1,202.242 net acres located in Duchesne and Uintah counties, Utah.
Highlights:
- Nonoperated Working Interest in 13 Wells:
- 30.00% to 6.25% Working Interest / 25.00% to 5.29701% Net Revenue Interest
- Six Wells After Payout Only
- Nine Producing Wells | Four Shut-In Wells
- ORRI in Three Producing Wells:
- 3.00% to 2.50% ORRI
- The Huber Federal 26-24 Converts to Nonoperated Working Interest After Payout
- Current Average 8/8ths Production: 165 barrels per day of oil and 198,000 cubic feet per day of gas
- Six-Month Average Net Income: $5,629 per month
- 1,202.242 Net HBP Leasehold Acres
- 15.705 Net Mineral Acres
- Operators include Crescent Point Energy U.S. Corp. and Finley Resources Inc.
Bids are due at 1:40 p.m. CST April 17. For complete due diligence information energynet.com or email Cody Felton, vice president of business development, at Cody.Felton@energynet.com, or Denna Arias, director of transaction management, at Denna.Arias@energynet.com.
Recommended Reading
E&P Earnings Season Proves Up Stronger Efficiencies, Profits
2024-04-04 - The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
M4E Lithium Closes Funding for Brazilian Lithium Exploration
2024-03-15 - M4E’s financing package includes an equity investment, a royalty purchase and an option for a strategic offtake agreement.
Laredo Oil Subsidiary, Erehwon Enter Into Drilling Agreement with Texakoma
2024-03-14 - The agreement with Lustre Oil and Erehwon Oil & Gas would allow Texakoma to participate in the development of 7,375 net acres of mineral rights in Valley County, Montana.
California Resources Corp. Nominates Christian Kendall to Board of Directors
2024-03-21 - California Resources Corp. has nominated Christian Kendall, former president and CEO of Denbury, to serve on its board.