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.
Highpoint Oaks Ltd. retained Oil & Gas Asset Clearinghouse LLC for the sale of a producing North Texas mineral acreage package in the Barnett Shale through an auction closing Feb. 4.
The assets, located in the East Newark Field in Denton County, Texas, are producing from the Barnett Shale, according to Clearinghouse.
- 6.02% royalty interest
- 68.77 producing mineral acres
- Average net monthly cash flow: about $1,370 (January through September 2018)
- Multiple permitted wells surround acreage
- Operated by Eagleridge Operating LLC
Daily production at plateau will be about 43,000 barrels of oil equivalent. Utgard’s recoverable resources are estimated at about 40 million barrels of oil equivalent.
Output will rise to 500 MMcf/d by second-quarter 2020 when five wells are expected to be online, the oil ministry said in a statement.
U.S. oil output from seven major shale formations is expected to rise by 74,000 barrels per day (bbl/d) in October to a record high 8.843 million bpd (MMbbl/d), the U.S. Energy Information Administration (EIA) said in its monthly drilling productivity report on Sept. 16.