Coronado Resources has retained Meagher Oil & Gas Properties Inc. to sell operated exploration and development opportunities in Arkansas and Alabama.
The first package involves approximately 7,500 net acres on 45 sections with an average net revenue interest of 83% with Fayetteville and Woodford shale potential in Crawford, Franklin, Madison and Washington counties in Arkansas. Multiple conventional and unconventional objectives are present. The Woodford shale appears similar and on trend with proven projects in Wagoner County, Oklahoma. All leasehold expiring before 2015 has option terms with five-year extensions.
The second package involves approximately 8,200 net acres with an average 80% net revenue interest in 46 sections in the Black Warrior Basin in Hale County, Alabama. Multiple target formations include the Pottsville coal, Chandler (Penn) sands, and the Floyd and Chattanooga shales. Option terms include two- to five-year extensions on 95% of the leasehold.
The bid due date is Sept. 15. The effective date is Oct. 1. Closing is expected by Sept. 30. Contact Jacque Semple, 918-481-5900, ext. 221, jsemple@meagheroil.com.
Recommended Reading
For Sale, Again: Oily Northern Midland’s HighPeak Energy
2024-03-08 - The E&P is looking to hitch a ride on heated, renewed Permian Basin M&A.
E&P Highlights: Feb. 26, 2024
2024-02-26 - Here’s a roundup of the latest E&P headlines, including interest in some projects changing hands and new contract awards.
Gibson, SOGDC to Develop Oil, Gas Facilities at Industrial Park in Malaysia
2024-02-14 - Sabah Oil & Gas Development Corp. says its collaboration with Gibson Shipbrokers will unlock energy availability for domestic and international markets.
E&P Highlights: Feb. 16, 2024
2024-02-19 - From the mobile offshore production unit arriving at the Nong Yao Field offshore Thailand to approval for the Castorone vessel to resume operations, below is a compilation of the latest headlines in the E&P space.
TotalEnergies Acquires Eagle Ford Interest, Ups Texas NatGas Production
2024-04-08 - TotalEnergies’ 20% interest in the Eagle Ford’s Dorado Field will increase its natural gas production in Texas by 50 MMcf/d in 2024.