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Tracker Lario Utica LLC and TLU Royalty Holdings LLC retained EnergyNet for the sale of a nonoperated stake in producing Utica Shale assets in Ohio through an auction.
The offer comprises nonoperated working interest and overriding royalty interest in 19 wells plus HBP leasehold acres located in Harrison, Noble and Tuscarawas counties, Ohio. Operators include affiliates of Chesapeake Energy Corp., EnerVest Ltd. and Ascent Resources.
- Nonoperated Working Interest in Five Producing Wells:
- 21.342629% to 5.00% Working Interest / 17.074103% to 4.00% Net Revenue Interest
- Overriding Royalty Interest in 14 Wells:
- 0.628121% to 0.060294% Overriding Royalty Interest
- 12 Convert to Nonoperated Working Interest After Payout
- 13 Producing Wells | One Shut-In Well
- Six-Month Average Net Income of $91,863 per Month
- Six-Month Average 8/8ths Production of 1,362 barrels per day of Oil and 13.361 million cubic feet per day of Gas
- 143.1984 Net HBP Leasehold Acres
- Operators include Ascent Resources Utica LLC, Chesapeake Exploration LLC and EnerVest Operating LLC
Bids are due by 2:20 p.m. CST March 27. For complete due diligence information energynet.com or email Ryan Dobbs, vice president of business development, at Ryan.Dobbs@energynet.com, or Denna Arias, director of transaction management, at Denna.Arias@energynet.com.
Oil prices fell on Dec. 23 after an increase in U.S. drilling activity, but held near recent three-month highs on hopes for a trade deal between the United States and China.
OPEC and other leading oil producers may consider easing oil output restrictions at their meeting in March, Russian Energy Minister Alexander Novak said in an interview aired on Dec. 23.
The train is one of three included in the first phase of the project, which will enable the export of about 12 million tonnes per annum of LNG.