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Midwest Trend Energy LLC retained EnergyNet for the sale of an Appalachian position across Ohio and Indiana through a sealed-bid offering closing Nov. 13.
The offering includes undeveloped leasehold in Sandusky and Wood counties, Ohio, and Wells County, Ind.
- 4,594.37 Gross Acres / 4,335.36 Net Undeveloped Leasehold Acres
- 100% of OGL's (Delivering an Average 87.50% Net Revenue Interest)
- Five-Year Terms with Five-Year Options to Extend on All Acreage
- One Offset Rigs
- 14 Active Offset Permits
- Four Active | Four Drilled/Drilling | One Completed | Five Permitted
- 104 Active Offset Producers
- Select Area Operators include EnerVest Operating LLC, Franklin Gas & Oil Co. LLC, Frantz Enterprises Ltd. and Graham Michaelis Corp.
Bids are due by 4 p.m. CDT Nov. 13. For complete due diligence information visit energynet.com or email Emily McGinley, manager of business development, at Emily.McGinley@energynet.com, or Denna Arias, director of transaction management, at Denna.Arias@energynet.com.
Output at the largest formation, the Permian Basin of Texas and New Mexico, is expected to rise 57,000 bbl/d to 4.73 MMbbl/d.
Drillers cut seven oil rigs in the week to Nov. 8, bringing down the total count to 684, the lowest since April 2017, Baker Hughes said in its weekly report.
A majority of the drop in production came as federal offshore Gulf of Mexico production slid about 332,000 bbl/d to 1.58 MMbbl/d, the data showed.