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.
NorthStar Energy LLC retained EnergyNet for the sale of a 180 well package in Michigan in an auction closing Dec. 11.
The offering includes 100% gross working interest with operations plus about 20,000 net HBP leasehold acres located in Alpena, Charlevoix, Cheboygan and Otsego counties, Mich.
Highlights:
- Allocates risk between upstream and midstream assets
- 100% owner of processing and pipeline transportation assets that provide transportation of gas for NorthStar production and potential third-party production with volumetric tariffs approved by Michigan regulators
- 183 wells
- 168 wells capable of production
- Current production from only 32 wellbores
- 136 wells available for workover/return to production
- 15 saltwater disposal wells
- 168 wells capable of production
- Approximately 20 miles of Michigan Public Service Commission (MPSC) rate approved pipeline system which can also take 3rd party gas
- Substantial upside from bringing proved developed non-producing (PDNP) wells back online
Bids are due by 1:30 p.m. CST Dec. 11. For complete due diligence information visit energynet.com or email Ethan House, vice president of business development, at Ethan.House@energynet.com, or Denna Arias, director of transaction management, at Denna.Arias@energynet.com.
Recommended Reading
What's Affecting Oil Prices This Week? (Sept. 16, 2024)
2024-09-16 - With expectations for more favorable supply/demand fundamentals and improvement in the sentiment of oil traders, Stratas Advisors forecast higher oil prices with the price of Brent crude moving back above $80.
Barnett Shale’s BKV to Launch Delayed IPO of Natgas-focused E&P
2024-09-16 - BKV Corp. has positioned itself as an LNG supplier near Gulf Coast markets with production averaging 718 MMcfe/d across about 460,000 Barnett acres, supported by 778 miles of associated gas gathering pipelines and 65 compression units.
Francine Closes, Restricts Oil Export Ports, Shuts in 42% of GoM Oil
2024-09-13 - In addition to hampering ports and refineries, an estimated 41.74% of Gulf of Mexico oil production, or 730,472 bbl/d, has been shut in.
As Crude Markets Turn Bearish, Will OPEC Come to the Rescue?
2024-09-13 - Despite oil futures prices sliding since August, OPEC continues to keep supplies up, to the bafflement of analysts.
Hotter Temps Drive Japanese Demand for Spot LNG from US
2024-09-11 - Above-average temperatures are forecast for most regions of Japan through early October, compelling the country to seek prompt LNG, potentially from the U.S., to cover extended summer-related electricity demand.