The following information is provided by Oil & Gas Asset Clearinghouse LLC. All inquiries on the following listings should be directed to Clearinghouse. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Three Crown Petroleum LLC retained Oil & Gas Asset Clearinghouse LLC for the sale of a Powder River Basin producing mineral package in Johnson County, Wyo.
- 9,497 gross (8,637 net) acres
- $156,000 average annual net royalty cash flow (last three years)
- $528,000 average annual lease bonus (last three years)
- 4,103 net acres leased to ATX Energy Partners ($2 million bonus due to extend)
- 2,773 net acres HBP leased to EOG Resources Inc.
- 1,760 net acres open
- EOG recently purchased directly offset open leasehold surrounding Hummingbird region
- Offset horizontal drilling activity in the Mowry, Niobrara and Shannon reservoirs
Bids are due Feb. 27. An electronic data room is available.
Texas Railroad Commission, which has the authority to mandate production curbs in the state, will consider next week a proposal to require larger oil producers to cut output by 20% beginning May 1.
Marathon Oil will continue work to optimize its development plans in the Bakken and Eagle Ford Shale, but now plan to take “frac holidays” in both plays during the second quarter, CEO Lee Tillman says.
Replacement production dynamics signal hope.