The following information is provided by Meagher Energy Advisors. All inquiries on the following listings should be directed to Meagher. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
PGP Holdings 1 LLC retained Meagher Energy Advisors to sell Midcontinent Basin and Texas Panhandle nonoperated production and leasehold.
The assets are located in Beaver, Beckham, Blaine, Caddo, Canadian, Carter, Coal, Custer, Dewey, Ellis, Garfield, Garvin, Harper, Haskell, Hughes, Kiowa, Latimer, LeFlore, Major, McIntosh, Muskogee, Pittsburg, Roger Mills, Stephens, Texas, Washita, Woods and Woodward counties, Okla., and Hardeman, Hemphill and Lipscomb counties, Texas.
- Opportunity to acquire assets in highly coveted areas
- Attractive target for unconventional oil and gas development
- Steady production and cash flow
- 525 active nonoperated wells (101 horizontals)
- $214,300 net cash flow forecasted for July 2018
- Forecasted production in July 2018
- Gross: 1,515 bbl/d of oil and 51,170 MMcf/d, 10,043 boe/d (85% gas)
- Net: 66.5 bbl/d of oil, 1,984 Mcf/d, 397 boe/d (83% Gas)
- Average interest: 11.7% WI, 8.5% NRI
- Up to 50% WI in active wells
- Notable operators include Apache, EnerVest, Cimarex, Mewbourne and JMA Energy
- Significant HBP leasehold position
- 15,467 net acres in Oklahoma with majority located in the Anadarko Basin
- 906 net acres in Texas Panhandle and Hardeman Basin
- All acreage HBP with a substantial position of about 802 net acres in the Stack and Scoop plays
- Acreage position of about 1,460 net acres in Arkoma Woodford - Caney
- Acreage position of about 7,706 acres in emerging Anadarko Pennsylvanian Sand horizontal plays
- Stack, Scoop and Arkoma - primary target in the Woodford and Mississippian
- Northwest Stack - primary target in the Mississippian and Pennsylvanian Sand
- Cottage Grove, Marmaton and Cleveland in Anadarko Basin
- Average 7.9% WI in identified future Woodford and Mississippian horizontals in the Stack and Scoop plays
PGP Holdings is an affiliate of Public Gas Partners Inc.
Bids are due Sept. 11. The sale is expected to close Oct. 18 with an effective date of July 1.
2023-07-25 - Pertamina, Petronas pick up Shell’s interest in the Abadi project while Eni takes over operatorship and a majority stake in the Gendalo and Gandang projects.
2023-08-21 - INPEX is set to receive operatorship of the field with 74% interests, with TotalEnergies the balance from PTTEP.
2023-09-10 - Eversource also has determined that it is “in the best long-term interest of the company” to advance the sale of its existing 50% interest in three jointly owned contracted offshore wind projects: South Fork Wind, Revolution Wind and Sunrise Wind.
2023-09-21 - W&T Offshore is growing its footprint in the Gulf of Mexico with a $32 million shallow-water acquisition.
2023-08-19 - Canada’s TC Energy is seen to have sold equity in the premium asset to offset $60 billion in debt, leading to a slide in stock prices.