An affiliate of Devon Energy Corp. (NYSE: DVN) is selling assets in Oklahoma’s Stack extension through a sealed-bid offering handled by EnergyNet.
The offer comprises a leasehold position covering about 6,900 net acres plus various operations and nonop working, royalty and overriding royalty interests in Dewey, Major and Woodward counties, Okla.
Highlights:
- About 6,897.55 net leasehold acres;
- 75% to 87.5% net revenue interest;
- About 4841.32 net nonproducing leasehold acres;
- About 2,056.23 net leasehold acres HBP;
- Six-month average 8/8ths production of 9.884 million cubic feet per day and 376 barrels of oil per day;
- 12-month average net income of $215,176 per month;
- Operated working interests in three wells;
- 49.72% to 100% gross working interest and 42.26332% to 81.25% net revenue interest;
- Nonoperated interests;
- 0.15625% to 64.00% gross working interest and 0.126953% to 21.864938% net revenue interest in 14 wells;
- 0.0069% to 2.734375% overriding royalty interest in six wells; and
- 0.195312% to 1.25% royalty interest in four wells.
In January 2016, Devon impelled interest in Oklahoma’s Stack with its $2 billion acquisition of Felix Energy, which added 80,000 net surface acres to its position in the play.
Bids are due by 4 p.m. CT Nov. 2, and can be submitted to Ethan House, vice president of business development at EnergyNet. For information visit energynet.com or contact EnergyNet’s Denna Arias at 281-949-8463.
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